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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (47236)	7/24/2002 11:59:22 AM
From: ajtj99	Respond to of 209892

AA, those are not trendlines on the COMP I was referring to. They were April 1997 lows on a macro low. 1197.5, 1195, and 1194. Those were breached. That's significant in my book. If you're looking for a test of the 1200 range, yes, that could be a throw-over. However, a test of absolute lows like these should have held. Since breached, we either drop below them after a sucker run, or we leave it to breach on the next drop. Since I got a few puts, I believe in the former. MSFT needs 40. All this is just part of the larger picture of this local bottom we're getting in the next week or so, IMO.