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

To: Tom Pulley who wrote (29253)	10/1/2001 9:14:44 PM
From: Zeev Hed	Respond to of 30051

Tom, actually, I should have worded that differently, when CCMP breached and closed under $50, its trend was completely broken, the $43 area is simply $6 from my last week last buy and a max pain point. The reason I stayed in is the belief (possibly wrong) that we will no go much below 1425 on the Naz, and CCMP's RSI was already breaching 30%, an area from which sizeable rallies have occurred in the past. Unfortunately, I see no signs of strengthening either in the OBV or money flow. The stock has lost almost 50% from its recent high (above $80), but we have seen many (JNPR for instance) that are 75% from their respective recent highs. The next real "resistance" is not until about $36/$37, the April lows. Zeev