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

To: mishedlo who wrote (85777)	11/14/2003 12:11:43 PM
From: jjstingray	Read Replies (1) \| Respond to of 209892

You can make the point that Countrywide completed 5 waves up and is now moving down. But, that chart sure is impressive.

To: mishedlo who wrote (85777)	11/14/2003 12:27:31 PM
From: Shack	Read Replies (1) \| Respond to of 209892

BRCM indeed looks like it may be in trouble, but we're a long way form any confirmation. As for CFC, yes it hounded, but at a very small degree. In other words I would consider the hound resolved as it fell $9 out of that slop, no real TA damage yet. The entire decline from oct 24th now looks like a potential completed correction. That being said, most major reversal usually begin with a small hound. Although the stock has no bearish appeal for me personally right here, if you are keen to play it short this is not a bad spot with a stop at $104 or so.