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Setups for Friday, September 8, 2000

CMGI, Inc. CMGI has fired 90-10 Low Continuation & Reversal and Momentum Pinball Buy signals for today's trading. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at left) appear as if a short term cyclical top has recently been defined. Odds favor continued downside in today's early trading. Sell the break of yesterday's 43.000 low, or even earlier if price demonstrates weakness below the 44.146 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 41.563 or the Extended Low Range Projection level of 40.321 would be likely areas for such a reversal to take place.

Global Crossing GBLX has fired NR7, Inside Day, 2 Day ROC Buy, and Low Range Close signals for today's trading. The NR7 signal tells us to expect range expansion and a pickup in volatility. The Inside Day signal is fired when the day's trading occurs within the range of the prior day. A subsequent breakout of an Inside Day's range typically points the way of the next trend move. The 2 Day ROC Buy signal suggests that today's principle trade direction should be to the upside, but the Low Range Close signal implies that yesterday's late day weakness should carry on through to this morning's trading. The NR7/Inside Day signal combination tells us to stand ready for a strong impulse move in either direction. Trade the break of yesterday's 35.250 high to 34.312 low range with a stop and reverse on the opposite side as the entry. Price action relative to today's 34.688 Daily Pivot level may provide clues for earlier entry.

Oracle ORCL has fired Low Historical Volatility, Inside Day, and 2 Day ROC Buy signals for today's trading. The Low Historical Volatility signal tells us to expect range expansion and a pickup in volatility. The Inside Day signal is fired when the day's trading occurs within the range of the prior day. A subsequent breakout of an Inside Day's range typically points the way of the next trend move. The 2 Day ROC Buy signal implies that today's principle trade direction should be to the upside. The Low Historical Volatility/Inside Day signal combination tells us to stand ready for a large impulse move in either direction. Trade the break of yesterday's 91.750 high to 89.500 low range. If entered long, place a stop and reverse on the break of yesterday's low. If entered short, stop and reverse on the break of yesterday's high. Price action relative to today's 90.813 Daily Pivot level may provide clues for earlier entry.