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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (2672)	7/10/2003 9:51:18 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 10065

The Sox has a couple of real issues and as a leader in tech. and, by implication, then so does the nasdaq. First, I do not believe the Sox retested its lows. It was a spike low. Second, right now the Sox has the highest scans since 2000 as Les does them. Third, it has spiked to resistance with those readings. Fourth, the rise off the October lows has the inclination and shape of a wedge and not like other bull market impulsive moves. Fifth, even with all the sentiment extremes this cant get back into the bull market channel. This is the second trip up here is indicative of a topping process even if we go a bit higher (420) due to something like a semicon west pumpola next week. This is how the sox tops with ups and downs and ups and downs and finally down she goes. 170? I dunno about that.