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International Investing / Australia (All-Ordinaries)


Subject:  XHB Sick Date:  2/27/2002  11:38 AM
Author:  jono202 Number:  3685 of 6186

The XHB has been in up trend for nearly 2 years from the lows in may 2000.This uptrend has been savagely broken in the recent sector sell off. On a 2 year weekly chart the 30dma(wnich has started to flatten out) has also been broken by a large amount.

A break of trend line or 30 dma over such a time frame by more than 3% is considered significant.

Short term we could see a rally back to the 5600 res, from 5200.

Intermediate term & longer term the 2 year bullish move in this sector is under threat.

Current holding in sector a small position in NRT at 2.20.

I'll watch nrt res at $2.60 & up my stop.

My 1c worth.

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