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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Venkie who wrote (4911)	12/4/2001 4:42:24 PM
From: Boplicity	Read Replies (1) \| Respond to of 13815

nice time to be long and not worrying about the market. The easy way to make money. B

To: Venkie who wrote (4911)	12/4/2001 11:30:58 PM
From: Bandit19	Respond to of 13815

Donnie, Hi. Yes it was a good day to be on the long side. Comments from John Murphy.... FIRST TIME IN OVER A YEAR... After a 58 point gain, the Nasdaq Composite Index closed at 1963. That is significant because it resulted in a close above the 200-day moving average, which we've been viewing as a potential resistance barrier. The price gain was supported by higher trading volume and a positive breadth ratio of 2 to 1. All in all, a pretty impressive day. The second chart shows that this represents the first Nasdaq close over its 200-day average since Labor Day of 2000. Normally, when long-term resistance barriers are broken during the week, we like to see the breakout hold through Friday's close. At least for today, however, the chart action has to be viewed as impressive -- and greatly increases the odds that the rally off the September bottom is going to carry further than we anticipated. We caution, however, that our short-term indicators remain in overbought territory -- and all the other major indexes remain below their 200-day lines.