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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (34428)	11/7/2001 9:04:39 PM
From: Kelvin Taylor	Read Replies (1) \| Respond to of 53068

as the market decline this year we heard(at least I did) about support levels for the DOW and NAZ and leaders stocks the declines continued. think of this: did anyone think CSCO would return to 1998 levels? how many support levels did that stock break? take a look at how many stocks fell well below 200 DMAs. AOL for example is @ 35, 10 points below its 200 DMA. were you surprised to see the stock drop so far below 40? there are stocks that have stayed above long term trend lines like INTU. the more important factor in price has been earnings results and both economic news plus the external factors from 9/11 technicial indicators are a useful tool to be used. in a choppy nervous market tho, one shouldn't trade purely on a chart, but more on what likely will move a stock either up or down.