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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (11853)	6/1/2002 10:28:00 PM
From: techanalyst1	Read Replies (2) \| Respond to of 57684

Yeah, Ibm has been moving on low volume. That just means that it isn't finding buyers either. The short term trend is down and the downtrend line was not broken on Thursday. Just because a stock goes up for a day after being down, doesn't mean that all is well. IBM gained 48 cents on Thursday and lost 1.80 on Friday, closing below the intraday low on Wed. The intraday low in 2000 was 80.125 and so Ibm trading this low now (below the intraday lows of all of 2001) can't be bullish. I still think the chart is bearish and it is so for a reason, I just don't know what that reason is. TA