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

To: Shack who wrote (65176)	2/3/2003 9:24:53 AM
From: At_The_Ask	Respond to of 209892

CSCO earnings are tomorrow I believe. Could be good for some fire works either way, everyone seems confused about the next directional move. As to picking spots I've been trying to keep some longs and some shorts. So far it's been working and it's nice not to have to worry so much about where we open the next day. Longs are mcd hd and cin?. amgn short is driving me nuts, refuses to break down, same with cmcsk, if we rally this junk will probably just float or perhaps run again. The lower wedge line on amgn is now above 50 so unless they pull a big ramp it will eventually break resistance. Still like beas short. tyco looks doomed, so does rimm. Falling wedges on $rlx wmt and hd. Either they are going to pop or break down badly. If we go to war retail sales will fall off of a cliff because everyone will be watching cnn for a month or two.

To: Shack who wrote (65176)	2/3/2003 12:10:26 PM
From: mishedlo	Read Replies (1) \| Respond to of 209892

From Brian The rally this morning completed a textbook Ending Diagonal pattern, and since has traced out 5 small waves down with a correction up. Ending Diagonal patters appear at the end of wave C's in a correction or at the end of wave 5's in an impulse. This diagonal would mark the end of wave C and the end of the correction. A pass below 844 will confirm it, but I think that the diagonal is good evidence that the correction is over. The ceiling is 865 for this to hold. All the Best, Brian