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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: HH who wrote (9125)	2/5/2002 11:35:12 PM
From: Rob S.	Read Replies (2) \| Respond to of 11568

I commented on that during the trading day. Toward the close it really looked like money was jumping in from the sidelines. During a one minute period, mayby just a few seconds, over 400,000 shares traded. Sellers were panicking . . . the fear was thick and someone out there smelled it as an opportunity. I think they have it set up to let it drop in the morning, maybe on the news that the Brazil unit lost money last year, and then pounce. I bet a case of micro brew that we end up tomorrow. I just went back over the past 16 years (1986-now) to see visually what has happened in the stock in comparative drops. The trouble was that I could not find a single time that Worldcom has dropped by this percentage in a similar period of time. I believe this is the sharpest drop in WCOM's history. Technical indicators are extremely useful and I use them to make most trading decisions. But just scanning the visual record and letting your brain look for patterns and comparisons of a particular stock is also very useful. One problem with formulas is that they are made to fit the market as a whole. Indicators can work well for some stocks an not well at all for others. Usually a "voting" of indicators pointing in the same direction is good, ad chart pasterns and a recognition for what is "off the charts" for that particular stock and it adds up to the best TA. Technically this is telling me that the selling has reached such a critical level that a rebound is almost certain in the next day or two. Even some bad news from Worldcom. if not absolutely catastrophic, should send the stock higher imo.