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To: Shack who wrote (72097)4/25/2003 11:17:10 AM
From: Henry J Costanzo  Read Replies (1) | Respond to of 209892
 
MMM..........guess it won't come as a surprise to you that I would have serious qualms in shorting on other than a few-points, wiggle-basis.

This stock still one of the relatively strongest of the bear market since 2000. It's now getting support from its 200-day SMA......and approaching support from what looks like an important uptrend line drawn through Sept '01, Sept '02, and Mar '03, and which comes in at about 121 ( which would also fill the Mar 13 gap at 121.74).....
RSI today close to 20......about as oversold as it's been in the past year..............So, be careful ....<,VBG>.

(BTW.apologize for never posting charts,,,don't know how......and too old to learn).....



To: Shack who wrote (72097)4/25/2003 2:47:31 PM
From: skinowski  Respond to of 209892
 
3M is an "enemy for DOW bulls"? Hey, with enemies like this, who needs friends?... -g.

The stock is very close to its support trendline on the weekly - daily. Might be a good place for a bounce - or, for an important breakdown.



To: Shack who wrote (72097)4/25/2003 7:29:57 PM
From: AllansAlias  Read Replies (5) | Respond to of 209892
 
LOL. More time has been wasted calling the top on that one than any other stock. A new all-time high recently. Anyone who has held MMM is smart. Give them that.

I expect that MMM is the talk of the bearish ether today. I have only read about 10 messages on all of SI, BF, and PB this evening, but I'll bet there are tons of MMM messages. Yup -- it's over for the Dow 'cause finally MMM is ready to participate in the bear. -g

What about the last two years? Anybody who had the balls to hold is, at this juncture, smarter than any wide timeframe bear for MMM.

The bottom of the MMM pattern is at about $98 here. It might get there. Dunno. I remember August on BF when I said MMM would make a new all-time high. I'd say it's about even odds that it'll make another all-time high.

I know we are setting up for a monster short, but I am not as eager as most to see it coming yesterday. I opine that the Dow will yet take out that triple top to the upside.

It's Friday... tough week for me D. All I care about tonight is the red in my glass, Roland The Headless Thompson Gunner on gear that cost more than my car, playing at an injurious level, and the Canucks game. Canucks are gonna win the cup. It's the toughest championship to win in all of pro sports. Tell me, you've got pull with that organization. If I fly to Vancouver next month for round 3, can you get us tickets?