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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (1399)	5/3/1999 6:23:00 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 63513

Grub 14 double zero don't forget to ask her about the BSL (bullish support line). MSFT broke through support....I sold covered calls Message 9292713

To: accountclosed who wrote (1399)	5/3/1999 9:05:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 63513

Here you go.... AMZN in all its Piff glory. I have here the 5pt chart. With internets, I look at but do not weigh as much the 2pt chart when it comes to the internets. The 5pt shows the larger support areas and evens out the volatility better. When we talked today of AMZN holding support we were talking of the 155 area. Three times AMZN has traded down to the 150 box without breaking it. Each time (today doesn't count yet) it bounced off the support. It is important for us Piffers to see stocks hold support such as this triple bottom at 155. A move to 150 would break the support and would be a triple bottom break. This is a major break if it occurs. The Bullish Support Line (BSL) lies right below the current triple bottom at 145 (you see it marked with a ). This is the long term bullish support. While a stock is trading above that line we call the trend positive. If below, the trend is negative. Notice the large base area from 155 to 190? This is what I have been hoping to see in the internets. The charts have recently had long rows of X's and then long rows of O's. It was hard to determine stop points and entry points with such large swings. When stocks build bases, it creates a platform of which, hopefully, to bounce off of. Last time the internets did this, when they rebounded, they did very well. I expect AMZN to bounce especially with the BSL so close to the triple bottom. If AMZN breaks the 150 AND the BSL, that would be very negative, the most negative (I think) in history, for AMZN. Let's see tomorrow. 225 220 X 215 X O 210 X O 205 X O 200 -------------X O --------- 195 X X O 190 X O X X X O 185 X O X O X O X O 180 4 O X O X O X O X 175 X O X O X O X O X O ----- 170 X O O X O X O X O 165 X O X O X O 5 160 X O X O X O 155 X O O O <--Triple bottom support 150 X ----------------? <--A move here would be a triple bottom break 145 X and very negative. 140 X * <--Bullish support line. 135 X *