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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Trocchi who wrote (7528)	2/20/1998 9:31:00 AM
From: Oeconomicus	Respond to of 27307

Bob T., you've found the "magic" of TA. In fact, Joe Kernen was making fun of the same thing the other day (I think he was using a HWP chart, drawing a bunch of lines and circles on it while mimicking technical analysts). Funny how the comments you quote focus on resistance at 71, as if it is inevitable that resistance levels must be broken. Wonder why they didn't mention that we seem to have a pattern of declining tops and bottoms. I guess, with that statement, they can claim to have called it if it does break 71, but can also claim to have called it if it fails. While we're on the subject, note that the only other extended sideways movement in YHOO in the last six months was mid-December, before it ran to 71. The difference is that the beginning of that sideways movement was itself a new high with the old high becoming support. We don't have that kind of support here. The charts can't tell us with any certainty which way it will break this time, but I think they look more bearish than bullish now. Support in the upper 50s, "with a break of this [floor] signalling the start of another... BTW, Maria "Belle" Bartiromo said this morning that equity funds reported a NET OUTFLOW in the week ended Wednesday. Maybe those fund investors really are the sharpest pencils in the jar. Bob