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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (15948)	5/11/1998 6:25:00 PM
From: bobferg	Read Replies (2) \| Respond to of 67982

The tapes override everything, I give the highest priority to price action. No indicator is 100%. I have the feeling some really constructive looking chart patterns I saw Thursday night and this weekend were turned to slop with todays action. I'm almost afraid to look at some of them later tonight! :) I started buying MSFT last week when it traded down to the 50dma, the open gap at 85ish, and when CNBC reported a Business Week article had laid out the DOJ's nasty wish list vs MSFT. MSFT put a potential spike low on the chart Friday, I still like the stock, but not as much as yesterday. The tapes (especially bonds) have to be respected.