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Strategies & Market Trends : TA setups-ex th traders -- Ignore unavailable to you. Want to Upgrade?

To: cthruu who wrote (3099)	8/29/2004 9:52:30 AM
From: dfs405	Read Replies (1) \| Respond to of 7682

Re: SMH ----I agree with you , and believe this market is staying rangebound for as long as possible until the election is over--I have been bearish since January as you know--------if Kerry should win we are cooked like dinner in my opinion based on what he himself has said he will do if elected-without a doubt either way, interest rates will continue to climb after the election regardless of who wins-----having said that --I do see a nice gap on the daily and weekly charts of SMH going back to 7-3-03 at 29.04/30.09 at which the SMH has been consolidating at for its third week--regarding the daily moves, if this weekly support should hold short term then there is a chance for a bounce back up to the daily gap just above from 8-5-04 in the 31.72 area before it continues on downward, which I do believe is inevitable--this would allow enough time for a stock like QCOM to break above that beautiful flag you have shown before it corrects---just my two cents-- we will see :-)