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Strategies & Market Trends : Guidance II -- Ignore unavailable to you. Want to Upgrade?

To: SusieQ1065 who wrote (675)	3/18/2002 11:06:50 AM
From: 2MAR$	Read Replies (3) \| Respond to of 2077

Right , support has been there for MCDT BRCD QLGC EMLX now NTAP being sweeties , here was J's write up on BRCD, as always they don't miss much when a sector's weak : Brocade Comm. - BRCD - cls: 25.54 chg: -1.48 stop: 28.75 new The weakness on Thursday for BRCD continued into the weekend as investors pulled money off the table. The lid on the stock price at $30 looks pretty strong now and the MACD is starting to rollover well under the zero line. Volume has been light but it has been growing on these recent declines. Most stocks in the industry are still under a lot of pressure. There was more negativity today for Brocade's cousins in the networking group with UBS Warburg lowering estimates on JNPR, SONS, NET and TLAB. The weakness today actually triggered our play in BRCD at $26.90, which also included at stop at $30.05. The 5.4% loss on Friday brought shares close to potential support at $25 and shares might bounce but we feel the trend is now down and we see evidence of this on the PnF chart with a fresh column of O's. Very conservative traders could attempt to play with a stop at today's highs or yesterday's highs but we're lowering ours to just $28.75. Traders still looking for an entry point might want to look for a failed rally on either side of $27.50 or a move under $25.00. One initial profit target is $22 but BRCD might trade to $20.