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To: the-phoenix who wrote (67876)3/4/2003 9:50:09 PM
From: NucTrader  Respond to of 209892
 
GE
Looks to me like it's headed to support around 21.38 - if that doesn't hold, then 19.78 might - it's the 0.236 retrace of the long term advance...as to whether it's a good short? I've been 97.6% cash for the past 6 weeks, if that tells you anything...



To: the-phoenix who wrote (67876)3/4/2003 9:54:33 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
I dunno phoenix, GE completed an ending diagonal this week and I suspect we are going to new lows if this is correct.

ttrader.com

I guess that's what makes a market.



To: the-phoenix who wrote (67876)3/4/2003 11:48:13 PM
From: bcrafty  Respond to of 209892
 
Thanks phoenix, I saw that chart on your board
when you first posted it in January

But since completing its Gartley on 1/27 it has breached its October lows (albeit on an intraday spike) and has several indicators pointing down right now. I think the OBV was particularly telling in that it confirmed that the recent low volume rally wasn't showing serious accumulation.

I'm not implying that it's going straight to 20, but it seems more likely to be headed there than to its December highs barring something unforseen that ramps the Dow in general.