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

To: fedhead who wrote (17306)	7/24/1998 6:16:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 69921

Anindo, No ultimate price target for AMZN & YHOO. The whole group will be sensitive to news going forward since earnings are mostly out. Hard to say at what price I'll get out but I wouldn't be surprised to see AMZN back up to its 2nd resistance level of ~137 and YHOO at ~197 sometime next week. 1st resistance level for AMZN is ~131 and YHOO is ~188. I'll probably get out there since NAZ just turned volatile this week and these stocks are heavily day-traded. >> Do you think the semis/ semi equipment sectors have hit bottom? YES & NO on SEMIs. Yes, because most of the damage is done. No, because there is no uplifting momentum for months to come. Dead money for a while, Perhaps until Jan 1999. NO on Semis. No, because they have perked back up with NAZ. I expect another wave of selloff in the Semis. Late August could be a good time to short these. There could be a false breakout in them, ignited by INTC. I won't be there on the long side but you can bet I will be there on the short side. This is the case of glass being 1/2 empty in my eyes. Clint