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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Berney who wrote (3141)	6/29/1998 8:51:00 AM
From: MonsieurGonzo	Read Replies (2) \| Respond to of 11051

TB; RE:" Breakout " >Jury did it again. Look at BA. If that wasn't a bullish breakout, I need to go back to the books... Yeah, he's got a pretty channel on his weekly chart, don't he? >IMHO the S&P breakout above 1120 was significant. I'd like to see a confirmed retest. Alas, the DJIA did not participate... Then we're seeing the same thing - the DJIA just went to the top of it's DownTrend channel; the OEX has broken up out of a rectangular box - like trading range. Logically, we would expect the OEX to piddle around here, without going back to ~525 again, then the "Summer Rally" begins after 04-JULY holiday. Should we break down, ( OEX 520 ) on some retracement, though - I'd say this last updraft was an end-of-quarter spike before a vicious down cycle. Asia (EWJ EWH EWM EWS) or Russia (TRF) or GM or, some kind of rise in the CRB commodities/cost of living are examples of rationales for another weak quarter... ...though a recovery in commodities could also buoy the cyclicals and other turtles. A lot of these AA-like industrials peak their cash flows during QTR III. DRG.X at ~680, I have the upside target at 715~720 and the downside support at 640-645. TYX.X Treasuries at 5.63% I have resistance at 5.6%, support at 5.72% and a near-term target of 5.5% But I would not understand yields dropping to 5.5% with commodities going up - unless bondz were driven by another "flight to quality" frenzy. The short and medium bondz look weird now that the long bond is so strong. Good Morning, TraderBerney (^_^) -Steve