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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call -- Ignore unavailable to you. Want to Upgrade?

To: HoodBuilder who wrote (3708)	2/25/2003 7:46:24 AM
From: HoodBuilder	Respond to of 11447

Reposted from HahnsCorner.com The Semiconductor ($SOX) 60 minute chart is pointing to a downside break. It's struggling at the 12/02 downtrend line, with the current bounce confirming the resistance area. The recent rally had a major fib timing projection on 2/20. This was not the price high of the rally but it was the high of the momentum indicators (actually they were already failing). The same pattern occurred at the January high's. This is invariably a technical gift and rarely a head fake. To be clear, "It is always significant". I wouldn't consider maintaining a long position in the $SOX components this week. The momentum indicator's are presaging a failure rally, once again. It's imminent.

To: HoodBuilder who wrote (3708)	2/25/2003 7:48:12 AM
From: Softechie	Respond to of 11447

VIX and VXN will get a spike very soon now...based on the charts for VXN VIX... ttrader.com

To: HoodBuilder who wrote (3708)	2/25/2003 7:54:50 AM
From: sun-tzu	Read Replies (1) \| Respond to of 11447

i agree, this is one of those instances where certain TA indicators may help to keep you on the right side of the tape. oversold stochs can stay oversold in a downtrend and vice versa. i thinks jeff's (not steve/jeff) death blow system is a classic example of this fact....which i now follow. i'm staying short too, but will probably trade out of my RYTPX position at some level near the october lows. a logical bounce point exists there. currently, we are setting up for a trade at those levels. we'll see...subject to change of course. fwiw...i anticipate a significant breach of the lows in the near term.