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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (6343)	3/12/2005 1:35:42 PM
From: Walkingshadow	Respond to of 8752

Hi Reid, Thanks.... that $14.50 level is very important support as you noted, but how strong it is will have to be determined. I think it is likely that support will be broken. There is lesser chart support at $16.60 (on a closing basis), and this was breached on Friday. So I am anticipating a fairly direct correction down to the next chart support at $16.00: stockcharts.com[w,a]daclyyay[db][pb50!b200][vc60][iUb14!La12,26,9]&pref=G Most likely I'll look for an exit there, and then regroup and wait for another shortable rally into resistance. I think AMD will give a lot of short opportunities in the coming months. It trades in a pretty orderly fashion, but with a very nice degree of volatility (beta = 3.4). And, I think we'll see more volatility on the downside, which will help shorts, and which also makes long positions during relief rallies too risky IMHO. Deterioration in QQQQ and especially the $SOX will be helpful here as well. stockcharts.com[w,a]daclyyay[dc][pd20,2!b50][vc60][iLg!Lyb20,2.0]&pref=G The $SOX has again been turned away from overhead at about $445; the BBs are extremely contracted, and the $SOX failed at the BB midline. This makes a push on the lower BB rail extremely likely, with a test of the 50 sma next on the agenda. T