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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: exeric2 who wrote (39739)	7/12/2001 2:45:52 PM
From: HairBall	Read Replies (1) \| Respond to of 100058

exeric2: Yep, I got the retrace levels plotted on the NDX, COMPX charts. The NDX, COMPX are trading in rising wedge patterns formed intraday off the gap up. However, several issues are trading in bullish intraday patterns...AMZN, CIEN, CSCO, INTC, NTAP, SUNW, etc while others are in wedge patterns consistent with the NDX and COMPX. The boyz are back to stealth. The easy reads are over for a while, methinks...<g> Regards, LG PS: I am still waiting for that "technical rally" definition...<g> Dr Bob knows more than me What makes you so sure of that? You a student...<g>

To: exeric2 who wrote (39739)	7/13/2001 2:20:56 AM
From: Drbob512	Read Replies (2) \| Respond to of 100058

exeric2: I wanted to let you know that I've enjoyed your postings. You have added a lot to this board. I agree with you that a retracement over 61.8% will make the previous trend suspect. I am using the 2328 high and the 1934 low because the trend has been down since May. We also have the trend from 1619 to 2328, and a much longer trend from 5132 to 1619, if you wish to do those retracements, too. Perhaps we are finally making a bottoming formation, but we may need to go below 1934 before making a more tradeable bottom, or a final bottom. Personally, I like to wait for an extreme oversold condition before going long in any major way, when there doesn't appear to be any urgency to jump in. We shall see...