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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (18353)	6/19/2001 10:20:53 PM
From: mishedlo	Read Replies (1) \| Respond to of 30051

NVDA needs close attn. VRTS less so but it is one strong stock. VRTS top of range is 72 with no chance of breakout IMHO. NVDA top of range is 100 and who knows. My plan is a simple one. Hold until we get close to 1850 on the Naz then close the short. I got in at 64 and think that 50-55 is doable. The next runup will not get to 72 I would think (perhaps 65 and provide a nice short opportunity for the bottom retest). I think it could hit 40-42. If 40 breaks then it could hit 30. Personally I think this is worth $10. Perhaps next year. NVDA is much tougher. If I got in at 95 today I would just hang on tight. Doubt it sees 95 again. 70 would not surprise me at all. If 60 breaks, I think it falls to 45. Best guess is 60 holds until next year when it falls to 30 or below. Any comments Zeev? M