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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (1676)	6/4/2002 11:18:00 PM
From: ajtj99	Read Replies (1) \| Respond to of 30712

Jeff, there are a couple of big differences this time around. The Dow was very strong at those times. It is broken now. The SPX was weak, but it still held support and was doing a re-trace. The SPX touched below the .618 re-trace area, which is a death-blow, and the Dow is in the process of completing a H&S top. The shorts are sometimes dumb, but they are not brain-dead. Unless INTC comes out and says they are going to make chips on a 0.001 micron fab next year, I don't see anything they can say that can be construed as positive. The CSCO news may get that stock back in the gap. $47.50 is there waiting for MSFT too.