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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 694.04

-0.2%

Jan 29 4:00 PM EST

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To: d. alexander who wrote (22594)	8/5/1999 4:51:00 PM
From: Clint E.	Read Replies (3) of 70262

>> Spike low is new to me. if you have a moment to point me to some info... Hum! Is that a TA-term? It could be. I don't know TA. Maybe, Harry or somebody else could describe it TA-wise. To me, it is when a stock(market) keeps drifting lower(volume expands and contracts in the process) as it is desperately looking for a bottom. A spike-low bottom would then arrive after a waterfall drop on low-volume as "get-me-out-of-this-stock" crowd rushes to sell. After this "fire sale", the stock's true value will lure buyers back in causing a quick reversal in the stock price on expanding volume. Today's action is a good example. When that happens, you want to buy as many stocks as you can because the reversal will be quite profitable. Clint

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