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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: velociraptor_ who wrote (15861)	4/11/2001 11:57:38 PM
From: Mike M	Respond to of 37746

Au contraire, a gap will be a gift to the longs who sell. The extent of the retreat will determine the benefit of gift to shorts....

To: velociraptor_ who wrote (15861)	4/13/2001 9:21:04 AM
From: JRI	Read Replies (1) \| Respond to of 37746

Final thoughts (promise)...any comments anyone- appreciated.. To:L3_aka_L3 who wrote (5753) From: JRI Friday, Apr 13, 2001 9:18 AM Respond to of 93799 Looking back at the November rally, and the January rally.... I looked at 7 top (former) "high-flyers" (BRCM, ITWO, CHKP, BEAS, SEBL, JNPR, CIEN) and the Soxx and BTK... I wanted to measure % moves from daily low to daily high.. For those 7 stocks mentioned, for November, the range was from 53% (JNPR) to 79% (CHKP), and for January, from 43% (JNPR) to 74% (CIEN).... Since the up move started Wednesday a week ago, the range is 63.25% (CIEN) to 95% (BEAS)... So, already, this move has equaled the moves in November and January on a % basis for the high-flyers.. The other interesting point was that, for the most part, at around 80 %, the moves seems to end (exception being BEAS move recently)....most of the moves were in the 60-70% range.....as said, we are already there (this go round) for all of the "high-flys" mentioned.... In November, Soxx moved around 36%, low-to-high....and in Jan. around 27%....so far, its been a 31% move (approx.) In November, BTK moved about 27%, low-to-high....and in January, around 35%.....this time around, approx. 25%.. ---------------------------------------------- Conclusions: Looks like this move should peter out soon, if indeed it is of the nature of the 2 previous corrective moves.....the Soxx could run maybe a little further, and the BTK too...but not much....The highflyers have already made an enormous move..... If we go much above the % moves (for the previous corrections), it would raise questions like: Are we correcting something bigger than the downmove from Jan.? Are, perhaps, 5 waves down now complete....and we are only in the A of a A-B-C correction (Sept.- March), etc... Any thoughts appreciated....(Question again: Wouldn't %'s be more valid than absolute numbers here?)