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Technology Stocks : Brightpoint - CELL -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (712)	8/6/1998 11:14:00 AM
From: Paul Shread	Read Replies (1) \| Respond to of 1999

DD, I use Investor's Business Daily. They have pretty good charts and sentiment readings that they run every day that include 200 day moving averages, among other things. I figured yesterday was going to be interesting, so I kept that page open all day. And what a ride it was. Despite today's action, I still think we bottomed out yesterday. Just too many positive things -- we filled a gap around 1065 on the S&P and bounced back (and technically held support at the 1075 level too). The 200 day moving averages held. High-volume intraday reversal ending in the black. Lots of good stuff. The one negative that absolutely has to change is the A/D line. We've got to get broader participation this time. And while I think we've bottomed out, I suspect we might revisit this level in October. There's been a lot of technical damage done (susprisingly to the Dow more than anything, as also happened in January), and I wouldn't be surprised if we drifted for a while a la October-January. Nonetheless, this may not be a bad point to start averaging in. Good luck to you. Paul