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Non-Tech : PSUN A new breakout at $30+!
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To: Duane L. Olson who wrote (1189)6/9/1999 10:47:00 AM
From: Toby Zidle  Read Replies (2) of 1622
 
I have to agree that it looks like the tech indicators are getting weaker ... particularly the broadening of the Bollinger Band separation.

But the big factor in the computation has to be last week's drop from $39 to $32. It happened and the charts have to reflect its influence. But by definition these are lagging indicators. What we need for picking a bottom is an indicator with minimum lag. I'm not sure what that indicator should be - probably candlestick patterns. Also, short-term support line.

What we can't see from the chart you linked is where the bottom is. We'd know only with the benefit of a few days' hindsight. If I were not holding PSUN, I'd say the chart gives me no reason to buy it. But since I do hold PSUN, I have to add that the chart gives me no reason to sell today. It's just reflecting past damage.
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