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To: BWAC who wrote (571)5/9/2002 12:06:08 PM
From: Robert O  Respond to of 13403
 
Discussion

Okay agreed. for example CSCO just sits right at about 15.53 plus or minus a few pennies though with an upside bias in face of low on Naz. This is usually an indicator that the price will not go lower without a real sig. jolt down from even these day lows. traders will tilt toward long positions and ride any momentum back up.

Interestingly, Naz has followed on of the oldest TA rules ever: give back approx. 33% of large gain or loss from prior day. 7.8% x .33 = 2.5% approx. give back expected and rec'd.

RO