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To: craig crawford who wrote (7337)2/13/1998 8:26:00 PM
From: Michael Collings  Respond to of 27307
 
<< If YHOO jumps a few of points and breaks out to the upside everybody and his brother-in-law will scramble to cover and mo-mo guys will jump in on the long side.>>

And then again it just might continue trading in this range, boring all of us while the rest of the market either moves up spectacularly or down spectacularly and we'll have our bucks it this puppy.



To: craig crawford who wrote (7337)2/13/1998 9:09:00 PM
From: Oeconomicus  Read Replies (1) | Respond to of 27307
 
Nice fantasy Craig. What happened to this morning's "breakout"? Looks more like the only buyers were shorts covering while there were apparently a whole host of sellers because it didn't hold above that magic 66 1/8 for more than about a half hour and all the heavy volume came during that time. What's that called? Pump and pump more? No, that's not it. Uh... dump? D'oh!

In the end, it couldn't even hold 65. What's it called when you see successively lower highs and lower lows? Oh yeah, a downtrend. Anything below 58 and the downtrend is reconfirmed. Then what will you do? Average down?

Hey, why am I telling you this? I don't even know if you are really long and believe the fantasy. Oh, and how dooo you get those really neat graphics into your profile?<G>

Bob



To: craig crawford who wrote (7337)2/14/1998 2:19:00 AM
From: Bill Harmond  Respond to of 27307
 
Amen. Well said.

The US market is sweating another decline in the Far East (which was very bad for the last two days) and has stalled yesterday and today...and now we face two sessions over there before trading resumes again in New York Tuesday.

Considering the rally against bad news occurring in the Semi Equipment makers, and oil prices declining ahead of a possible bloody fight between Iraq and just about everybody else....I think this is a pause in an uptrend.