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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: D. K. G. who wrote (957)	5/22/1998 4:37:00 PM
From: ftth	Read Replies (2) \| Respond to of 1720

Denis, good luck to you on MANU; I'd tend to think that the odds would be more favorable playing ITWO as a swing. MANU fell for a reason (and perhaps it was overdone), while ITWO fell in sympathy. ITWO has nice swing characteristics and is in a position to pivot. Undermining this all is the fact that NAZ pierced key support intraday, but closed above it. If it doesn't show signs of recovery early next week, or actually closes below support, may be time to reduce long trading positions. Also, MANU has shown support around 30 on a few occasions in the past, and held in a fairly tight range around it today. EFII, on the other hand, didn't have any recent "price memory" regions when it tanked, so a bounce had less established resistance (i.e. clusters of purchases around the same price over a period of time) to overcome. Just some things to consider. dh