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Technology Stocks : Network Associates (NET) -- Ignore unavailable to you. Want to Upgrade?

To: FoxGlove who wrote (3583)	11/20/1998 3:50:00 PM
From: AlienTech	Read Replies (1) \| Respond to of 6021

Support is around 41.75 since that is the 200 DMA.

To: FoxGlove who wrote (3583)	11/20/1998 4:19:00 PM
From: David Rubin	Read Replies (2) \| Respond to of 6021

Just looking at the chart you can see that short-term support (since the beginning of November) is about 40 (going back to the breakout on 10/29). This also provided resistance in September. But since 11/3 there has been strong support at 44, which has now been broken. Today is the biggest percentage drop since the breakout. Other indicators such as MACD and RSI are also weakening. The 15 DMA has been broken for the first time since 10/14. Plus, today's intraday chart is ugly. When the NASDAQ started to rally, NETA fell further. NETA's relative strength versus NASDAQ has been weak all month. Since volume was below average, I viewed this as consolidation, but today's activity is more consistent with distribution. I lost some money last year when it was still MCAF so perhaps I'm being overcautious here, but my gut tells me this rally is over...