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

To: MonsieurGonzo who wrote (10906)	4/29/2002 2:57:53 PM
From: Trading Machine	Respond to of 11051

Steve, just a quickie, I have a line under OEX @~523 today that it has responded to before. If I get a chance tonight I will post a copy of the chart on the web site and send out a message when I do it. A calculation of a failed rounded top formation leads me to believe that in the mid term we are headed for 490. As Berney says "we won't go there in a straight line", so pray for some kind of a bounce at 520. ngng Paul

To: MonsieurGonzo who wrote (10906)	4/29/2002 3:19:16 PM
From: Berney	Read Replies (1) \| Respond to of 11051

MG, Re: Phlop Bop I'm virtually totally committed in the Phleet. I'd cross my fingers but too busy chewing the nails. :o) Still expecting a full moon, end of month, in front of the fed, oversold bounce. However, agree with you that the sentiment really sucks at this time. TB

To: MonsieurGonzo who wrote (10906)	4/29/2002 5:58:06 PM
From: phillong69	Read Replies (1) \| Respond to of 11051

I'm also looking for a magic line _somewhere_ to base a play on. I ain't finding it. Virtually all of my usual trade bait has broken critical support. I stuck my toe into QQQ today at 30.85 or so, and bailed after it refused 31 and fell below my EP (and the friggin 5 min uptrend line ...) I think I'm going to have to wait for "capitualtion selling" before sticking my toe in again ... a nice long shadow on the bottom of a candle under heavy volume ... My hypothesis of a long term OEX 540-600 trading range is shot (at least the support point gggg), maybe there is a broader channel. Maybe not. I have no idea what Mr Market is doing (broadly), so I may as well go fishing - TM, you got that boat read yet <gggg> This could get fugly - Of course, fugly is a realtive term - there's a nice moderatly bullish long term uptrend support line on OEX that going back 15 years that has support at about 440 or so depending on how you draw it.....

To: MonsieurGonzo who wrote (10906)	4/29/2002 6:38:38 PM
From: Trading Machine	Read Replies (1) \| Respond to of 11051

Dear Captain FogHorn: Sorry to hear that you (and I) are in, hmm ugh shall we say difficulties? ng Barf! I refer your attention (mind you that's refer and not reefer) to angelfire.com Please ignore the 60 minute chart and space down to the daily. I have drawn for your edification a profusion of lines, which the Swamp Rat calls a spider web. These are for your review and comment. To wit: Until recently, I supposed the two purple lines to be a nominal up-sloping trading range that Big Al would be proud of. The white line is a weekly down trend line that we broke to the upside several weeks ago. The green line is the important one, and I suppose the confluence of the combination of the white and green line taken in tandem will prove to be good support about 1 day hence... unless you combine them and if we break to the downside they form a puke green line! The second factor I would bring your wonderous attention to is the Stochastics. The salmon line is the max time the fish spends underwater before surfacing, and if it surfaces (goes above 20) there is a reasonable probability that it will go up. The third thingy I would call your attention to is the little yellow line all the way at the bottom of the chart. This is the worm! It is due to go up. Probably tomorrow. A personal note: I went in at the barf note in anticipation of hitting the lower purple line and bouncing. hmmmm obviously a bad decision. Went back up to the downtrend line (an oxymoron for a moron) should have run for the hills but was stuck in traffic on Rte 66 and Four ninety fu%kin Five! and the next time we encountered the purple stock eater I shoulda bailed and didn't! Now one could surmise that I deserve what I get, but, but, butt! Consider that I am a nice guy that has recently discovered some marvelous white Burgundy from France..... hmmmmm The choice is obvious.gggg Also of note is the overall nature of the formation, Bulkowski calls it a "bump and run reversal top." The average decline of a "successful" formation is 24%! Barf! This would wind us up somewhere in the 490 area. hmmm Seems like we've been there before. The long and short of it is that I am, 1)praying for a bounce tomorrow and, 2) looking for an exit point, hopefully up at the downtrend line denoted in RED! I don't know if you call this trading or just being plain ass chicken shit scared if we break one, or both of these lines to the down side. It means delaying my retirement a year. hmmmm Or going to the farm and being a turkey hunter. hmmmm maybe that's not all that bad! ggg I bagged a 12 pounder last week with a head shot at 65+ yards. Hope this helps Steve. Cu and EXTREEMELY Good luck! Paul