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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (2862)	9/10/2001 7:40:45 PM
From: Susan G	Read Replies (1) \| Respond to of 26752

Hi Connor, sorry I did not notice those posts until late today - I would have kept you company on the thread <g> so you didn't have to talk to yourself! Don't you guys have a water cooler or something for those dull office moments <g> More good news for BEAS candlestick wise..It had a "three inside up continuation" pattern tonight - a very bullish indicator. Considered high reliability and another good sign the bottom could be in. Although often these come at the end of a reversal move and lead to exhaustion. But since it has not been a huge fast move, but a slow creep back up day by day it's a pretty good sign. The things to watch are the recent low of 12.93 - get out fast if it breaks and does not bounce back immediately, and also what happens when it tests the overhead 20ema on the daily which is at 16.38 right now. Shorts will be waiting there to smack it back down on a backside bounce, and it will need some good momo like a rally or a gap up to break through. That will be the spot to watch to see if it can go higher or if it's going to be stuck in this mid-teen range or even revisit the lows. There is also plenty of overhead resistance right above 15, where longs from the last 2 weeks are trapped, so it may hesitate there. Keep an eye on the software index too, the GSO, because that tested important support today which held. If it breaks 140 hard it's trouble for all software. Nor will the beast be able to hold on if the nas breaks the April lows... PS your company stock caught my eye today when it was on a Qcharts hotlist...looks like it may be putting in a bottom here. Has the 200 ema right over head on the weekly though, it stopped right at that point today.