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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: keithcray who wrote (10463)	8/11/2001 1:50:54 PM
From: ChrisJP	Read Replies (2) \| Respond to of 208838

Hi Keith and everyone, the NASDAQ doesn't look oversold to me. When you look at the chart, 2 things should be clear: 1. The NASDAQ double topped at 2100 in mid-July and 1st week of August. 2. The NASDAQ is still riding its 50 dEMA lower as it has been for the past 2 months. quote.yahoo.com^IXIC&d=c&k=c2&a=v&p=m50,m200,e50,e200&t=6m&l=on&z=m&q=l I have a funny feeling that the NASDAQ is looking for a lower trading range than the 1930 - 2300 range it's been in since mid-April. What that range will be ? -- we'll only know after we're in it, lol. The contrary indicator .... this time I think it is more of an indicator of a sustained move out of technology that will last for a while longer -- which is confirmed, IMO by the volume shift from the NASDAQ to the NYSE. So except of snapbacks to the 50 dEMA, the downtrend appears to still be intact. I'm actually starting to think that continued rate cuts may weaken the dollar which will cause foreign money to pull out of the US markets. A weaker dollar will cause the price of oil to rise .... also may make gold more attractive. Regards, Chris

To: keithcray who wrote (10463)	8/11/2001 2:03:17 PM
From: ChrisJP	Read Replies (2) \| Respond to of 208838

Two baby stocks that might be bottoming: GWRX, HAUP siliconinvestor.com siliconinvestor.com I own small amounts of both -- they haven't crossed their 20 dEMAs yet, but obviously, I'm keeping my fingers crossed. According to Yahoo, GWRX looks like it could be running out of money, too. I'm also still wondering if there will be short covering on EGGS before their upcoming earnings. It has in the past, but I'm not sure why shorts would feel the need to cover this time around. biz.yahoo.com Chris