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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (7223)	3/13/2001 5:46:39 AM
From: robert b furman	Read Replies (1) \| Respond to of 19219

Hi Macavity, Had to go back to August 26-31 1998 to find consecutive down days on the NAZ. The current plummet has dropped below the trade envelope to a larger degree than in 98. Thinking this is time for a little cutlery catch - one must close quickly. gulp I think we may turn soon here. Almost seems like the Dow must bust 10,000. So close almost seems like a no brainer.

To: macavity who wrote (7223)	3/13/2001 9:31:29 AM
From: J.T.	Respond to of 19219

Look at the weekly charts and there is not a lot of support for most of these (NDX) stocks. I am sorry to say but QCOM is amongst these stocks. This is carnage, but I cannot stress the potential for things to get worse is definitely there. The Biotechs - BTK and BBH - have broken down severely and this is causing most of the drag on the NDX. Most windows/gaps caused from the BGEN news in January have been slammed shut. With DRG failing @ the 397/400 level I think that the B/Tech bubble could really implode (more?). I know that they may be great companies but the stocks have got very little support, due to their parabolic Y2K rally (ditto QCOM). Excellent calls mac... I have made a bad call on QCOM let's see if this stock can get back to these higher levels in the second half of 2,001 and beyond. You read on the BTK/BBH has been dead on and falling Biotech is what has dragged COMP to lower depths in the vallley the last few days... Keep up the great work. Best Regards, J.T.