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<SPAN
class=360162221-05022003>DT,
I have
to believe todays saving grace for the Nas was that Cisco did not disappoint.
Had the news been poor (er) from last nights earnings we could well have seen a
very ugly day. Given the fact that CSCO traded 172% of its 50 day MA of volume
and still struggled to close flat for the day does not bode well for tomorrow.
<SPAN
class=360162221-05022003>
Your
glasses are fine, the picture is not clear but a break one way or the other
is bound to be substantial. I fear this support level , for the Nas and several
of its key components, may soon become resistance.
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: DIMITRIS TSOKAKIS
<TSOKAKIS@xxxxxxxxx> [mailto:TSOKAKIS@xxxxxxxxx]Sent:
Wednesday, February 05, 2003 3:40 PMTo:
amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Below the support
lineI was a bit anxious to see ^NDX breaking its recent
support line.One of the basic characteristics was apparent today. Below
the support it is easy for the market to erase early gains.This is the way
the support becomes gradually a resistance.We need some further
evidence:When the market will go lower and will attempt to reach again the
support/resistance level.In the lack of success, the market should find
new, lower equilibrium areas. The lower we go the more uncertain.With
this "simple" mechanism we see new LLV for more than 3 years.The end of this
procedure is not visible [for me]Shall I spend some money to buy new glasses
?Shall I trust the next fib level ?Shall I decide for some Elliot
subwave 3 of wave 4 as an alternative of subwave 5 ?Shall I trust a
great automatic trading system with great profits in the past ?It is
better to know BEFORE. After the turning point, EVERYBODY will find the
reason.I have to know before.And, it is not the easiest thing in the
world.Dimitris Post
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