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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: gc who wrote (73243)	3/24/2001 7:33:05 PM
From: Stephen M. DeMoss	Respond to of 99985

Gc, If the markets continue weak (which I anticipate) this week, Cien should easily retrace to the 49-50 support. If that gives way with, say, a bad Friday (which i also anticipate), it has little resistance to its 52 week low (40ish as you suggest). The group is very weak right now and showed no inclination to bounce on a 'good' Friday. Cien is the best in the group but being richly priced (still) will likely go the path of its brethern. If you (or anyone else) have good (other) suggestions on short possibilities, especially based on TA, it would be helpful. I have one eye on Brcd. If it can give up the 29 support/resistance, next weak support is the 52 week low (reached 2 weeks ago) at 25 and then....new daily lows<G>? Thanks in advance. Steve D.