Technical analysis for shorts & longs Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs

SPY 693.87

-0.2%

Jan 13 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Clint E. who wrote (22220)	7/21/1999 12:16:00 PM
From: Clint E.	Read Replies (1) of 69720

Many, including myself, expected the DOW to break out of its tight trading range to the upside. Well, it didn't happen. As far as the NAZ, In retrospect, it topped last Thursday. The Friday move was pretty much all MSFT and a few power plays(pmcs+vrts+lgto+merq+rfmd+qlgc). None of the Tech_Titans participated. Extreme volatility comes at bottoms and at tops. Volatility increased in the last two days but yesterday drop was still too-orderly to be considered extreme(hint:not bottom yet). Just look at the intraday price action, not much movement in most stocks after the morning drop. Tech_Titans dropped on heavy volume. The two leading groups Semi+Telecom were hit hard. So did the Internet stocks, in anticipation of so-so earnings by AOL+AMZN. A knee-jerk bounce is expected but if I were long, I would lighten up into any rally. It is not all doom & gloom. Just a break. I look for the NAZ to set a trading range low of 2612 and then move sideways.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next