Transition In Tech

  • April 18, 2001
  • Dave Landry

Wednesday’s action on top of Tuesday’s
reversal suggests that we are in transition mode. As I look to technology of
various forms–biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), computer tech
(
$XCI.X |
Quote |
Chart |
News |
PowerRating) and telecom
(
$XTC.X |
Quote |
Chart |
News |
PowerRating), I see that the moving averages are
beginning to turn up. This action suggests that the market is in transition
mode. However, as I mentioned in my Stock Outlook, I’d rather wait for and
analyze the first pullback before taking positions on the long side.

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src=”https://tradingmarkets.com/media/images/Landry3/xtc041801.gif” width=”470″ height=”320″>

Best of
luck with your trading on Thursday!

P.S. Reminder:
Protective stops on every trade!

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Talk
about it at TradingMarkets World