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

To: Return to Sender who wrote (35752)1/3/2002 11:12:10 AM
From: Return to Sender  Respond to of 69340
 
In my opinion this current rally on the SOX could extend as high as 590. There could be some profit taking first but the way things are going it could happen in short order. This should give AMAT the opportunity to trade slightly above 46 again. At that point we will need more conclusive evidence of an actual recovery in orders and pricing beyond the memory, DVD and foundry industries if the rally is to continue.

stockcharts.com[h,a]daclyyay[pb50!b200!d20,2][vc60][iUb14!La12,26,9!Lk14]

chart.yahoo.com^SOXX&g=d

RtS



To: Return to Sender who wrote (35752)1/3/2002 2:15:28 PM
From: Johnny Canuck  Read Replies (1) | Respond to of 69340
 
Initiating small short position one AMAT here. Stop loss break of 47 on AMAT, 2050 on COMPX or 600 on SOX.

Gap up above upper BB was the trigger. Tomorrow is day 3 of the current run in SOX. ECM's predicting end user weakness next Q. Given their just in time models, I would expect that this view is more accurate than the SIA trailing numbers.

I am having to guess a little bit on timing, the SI intra-day charts are down.


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