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To: AllansAlias who wrote (47170)	7/24/2002 12:21:41 AM
From: velociraptor_	Read Replies (6) \| Respond to of 209892

I have 7400 as support as well, but my minimum target lies at 7200 with 7050 as an alternate. At the moment, I also have a number of DOW stocks doing consolidations on the low in the hourly which all have at least a few points to knock of when it breaks. MSFT was the big one and it broke hard...now the focus lies on IBM as it too has a major consolidation on the low. If all these patterns break, I think 7400 will get sliced through and we could be visiting the 6000's.

To: AllansAlias who wrote (47170)	7/24/2002 12:29:57 AM
From: morokko65	Read Replies (1) \| Respond to of 209892

Allan, if we are within, say 7-8% of the intermediate low here, why not begin to incrementally go ST long in 20% increments beginning at 1190-1210 or so. I know that smacks of clowishness, but may be better than going the whole hog at 1200 or waiting for 1140 and having it never get there ST. I am only willing to devote 10-15% of my cash to this intermediate tactic, so we are talking 2-3% buys in case the vortex takes us to 950 COMPX. I have a feeling they ramp C & JPM soon for a last big distribution party before the curtains come down. The homebuilders popped today.... never underestimate man's ability to manipulate.