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To: SecularBull who wrote (8188)5/24/2001 6:56:27 PM
From: Sully-  Read Replies (2) | Respond to of 10934
 
I've taken some serious lumps in the last year too. It has helped me to be more objective assessing my investing choices. At least I hope so :-|

If you look at NTAP's recent low of $11.4375, then it's recent high of $29.50, a retracement of 50 -60% of those gains is not unlikely. That would put NTAP in the $20 range.

One thing I've found is that gaps tend to get filled...... sooner or later. From the 52 week low on 4/4, there are a number of open gaps. One is as low as $11.81, another at $15.87. Perhaps these are breakaway gaps that won't get filled. I just can't see NTAP that low again....... Never say never though. I have seen gaps get filled, sometimes more than a year after being opened..... even companies that are leaders in their sectors. I don't know why, but I do know it is uncanny how often it happens.

However, I would not be surprised to see the gaps at $19.44 & at $20.16 get filled if the market heads south this summer..... or NTAP warns (the latter of which I doubt happens).

BTW, NTAP at $20 could coincide with the NAZ filling a fairly large open gap at 1923.22.

IMO, that could be that test of the lows that really hasn't happened since the NAZ & NTAP (& most of the NAZ 100) put in their lows. Perhaps this will mark a higher low from which the market bases & begins a new bull run.

BWDIK?

chart.yahoo.com

chart.yahoo.com
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