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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (16836)	10/21/1998 10:38:00 AM
From: sean sanders	Respond to of 42787

Chris you sounded confident with a resistance with MSFT at 105. Why so? Did you do a fib retrace (with points 12/24/97 and 7/17/98)? or are you looking at the 50 day emov avg.? or are you drawing some trendlines? Sean Sanders

To: Chris who wrote (16836)	10/21/1998 10:57:00 AM
From: Cathedra	Read Replies (2) \| Respond to of 42787

Chris, thanks for your prompt advice and even more considerate follow-up. You are right on target and I wish I had taken your advice. (Cute disclaimer, BTW.) Because the earnings and forward statement were so strong, I was hoping for a pop to $106-107, especially since IBM (whose stock price had surely factored in all good news) also went up. Maybe it is too hard to fight both an intrinsic resistance and a downward bias in the general market. On that last note, I confess to being unsure of yesterday's market action. The indices and trading volume seemed to indicate an evening star, but the up volume/down volume and the put/call ratio said that there was still gas in the tank. I guess we'll find out more in a few days.