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

To: Galirayo who wrote (5356)	1/20/2005 11:15:08 PM
From: cthruu	Respond to of 7682

I like to keep life simple. 200 SMA is at 43.85. Before that, 52.30 support needs to fall. That is 50% retracement of wave 3 advance from 8/13 low of 27.60 to 12/6 high of 77.18; 38% retracement of Dec 03 to Dec 04 advance and Nov 04/Jan 05 bottoms. Thus 52-52.50 area forms a support and a neckline. If it falls, next target should be 200 MA. However I do not necessarily look for targets; I take partial profits at a certain point and trail the remaining position. I see a DejaVu of January, 2000 here. The markets blew off on Dec. 31; crashed in January and came back to give a graceful exit to longs in March, 2000. Remember this I posted at the end of December? ttrader.com We'll let the markets do the talking.. I am listening :)