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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Peter van Steennis who wrote (12862)	3/15/2002 4:37:11 PM
From: chowder	Read Replies (1) \| Respond to of 23153

Sir Peter, (your name sounds like one a knight would have adopted.) <g> Sir Peter, I addressed this very issue yesterday over in the Boom Boom Room. Message 17200031 >>>> TOL still looks strong with very little profit taking. BZH looks the most vulnerable for further decline. However, BZH is coming up on major support at the 50 day moving average. If the uptrend for the builders is to continue, BZH would need to rebound strong at that point. A close below the 50 day moving average and that would indicate weakness for the sector. <<<< BZH did exactly as predicted. It came down to the 50 day moving average and the buying showed up again. The homeboys have been a good sector to short "IF" you were day trading the sector and your timing was accurate. Others have made some profits shorting the sector but they would probably tell you, (if they were to be truthful), it wasn't worth the stress. Let's get back to BZH. In the near term, there is a case of indecision between the bulls and the bears. If BZH closes below the 50 dma, that would be a strong indicator that things will be going badly in the near future. On the other hand, earlier in the week I mentioned the NAZ would hold at 1850 and it has to this point. (It actually traded down to 1846 and rebounded.) Message 17189470 If the NASDAQ is going to continue to rise next week, then money "may" want to flow back into companies expecting to show decent earnings. In an environment where real earnings and real profits are going to count for something, the homeboys have the potential to rise higher. If someone is looking for the easy money in shorting the homeboys, they should wait until they see them dropping below the 200 dma. You can buy larger positions on a risk to reward basis since a downturn would have been confirmed at that point. If someone is wanting to go long the homeboys, watch for any follow through on Monday. Be sure the uptrend is confirmed, and an uptrend is still in play for the homeboys as long as they are trading above the 200 dma, in my opinion. dabum