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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (35048)	11/7/2001 4:01:11 PM
From: Logain Ablar	Respond to of 68150

Hi Harry: On a couple of points. The NYSE Bullish Percent has still not given a buy signal. It needs to reverse and then print a higher X. stockcharts.com Also Zeev Hed has had today (+/- a day) as the turn date although he originally did not have us going over around 1815 - 1820 area. We can have more short covering though if we start to blast thru some of the resistance levels. Some of the lower cost stocks I follow (a more appropriate term is trash ) in the software area are starting to show some good volume. ENTU had a power spike yesterday. I'm looking to enter around $5.5. Mattie always likes these high priced stocks <vbg>. CMRC - not a power spike. Not sure why its moved up. Just hope @ this point. A lot of software has moved up in the past couple of days. I've read (not sure if true and there are always exceptions) that software is the last to fall since its near the end of IT budget cuts. It also seems to be the last to rally. Tim

To: Johnny Canuck who wrote (35048)	11/7/2001 4:39:25 PM
From: Suresh	Respond to of 68150

Harry, I think that the tape action except for yesterday was mostly negative. If you follow most of the cup/handle break outs in the stocks, handle region should have had muted volume on the downside and expanding volume on the upside but overall reduced volume/activity in the handle region. However, most of the stocks I look had the inverse relationship. With some time, these break outs might prove wrong. As a bull (long term), I want the buyers of the stocks at the current levels to be investor(s). Most of the buying/trading in tech land seems to be MO-MO money and it will leave these stocks faster than they came. When I was expressing the thought of 3800 for next year, I was making an assumption of solid investor investment in these stocks and then mo-mo crowd going full blast in the later part to move it to 3800. Now, if the mo-mo crowd uses up most of their ammunition here and lose, it will be very hard to get to 3800 next year. This market is like a real life partner.... :) I am sure you will soon get to know the feeling :) Later, Suresh