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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: ET who wrote (391)	2/5/1998 2:01:00 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 34816

ET, Sure, VECO is trading below it's bearish resistance line, though it looks to have bottomed and is now on a high pole runup with a double top break. Semiconductor sector is in bull confirmed territory with the bullish percent at 56+. Wow, what a bunch of mumbo jumbo, so what does it mean? Being below bearish resistance implies a certain amount of risk when playing on the long side. The double top break is a good thing, but it had a big runup really quickly, which leads me to believe that there will be a pullback in the short term (not a bad thing actually). I like semis right now, but VECO would not be my first choice based on technicals. I know nothing about VECO's market or fundamentals, be sure to check those. Tom