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

To: Bill Cotter who wrote (36512)	3/20/2002 11:20:25 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68008

Bill, Technically, it is a little overbought, but it remains in a solid up trend. It looks like it has come back to fill the gap from 2 weeks ago. The OBV and money flow indicate some selling in the stock. If the market cooperates it should test the recent high. I just looked at the April and May options of the QQQ's though. The 35 puts look cheap. There is not much fear in the market right now. I am not sure I like this. I would run with a stop either at slightly below the 28 support level or on a break of the 50 day EMA which is looks like 27.50. If you are more confortable with the fundamental and the guidance is positive you can run with a stop at the 100 day EMA which is near another gap 24.75. Institutions usually buy at the 100 EMA. A break at that level indicates a potential serious change in the fundamentals.