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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: JoeinIowa who wrote (24447)	4/7/2001 12:44:00 AM
From: Ken W	Read Replies (2) \| Respond to of 29382

Joe: The CHK chart: I've been waiting for the gap to fill down around 7.50, but lost interest as it was taking FOREVER! LOL 207.61.23.99 IMO, so long as NG stays down around 5, then CHK, as well as the other NG stocks will suffer the fate of the general market. For a long term hold, thru the summer, CHK should do well. As ususal the general state of the market and the constant hype over recession etc. will continue to drag on all stocks. I've been funneling some of my short term trading profits into the big cap tech stocks. ORCL, CSCO, INTC etc. The actual selling has not been that strong lately, much of the downfall of the market, IMO is due to short selling and lack of buying rather than pure panic selling. Even the short sellers got a wake up call on Thurs. on the gap up. Most of the buying, driving the large one day rally was due to short covering. Today's pull back was near to exactly a 50% retrace of the gain on Thurs. with most stocks holding over the closing lows of Wed. This may take a couple more weeks of pain, but I think that the turn is very near. Ken