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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)
VSAT 45.94+4.1%Jan 16 9:30 AM EST
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To: Stock Watcher who wrote (16132)10/4/1999 1:42:00 AM
From: Trade4$  Read Replies (1) of 52051
 
I have not posted suggestions lately because I have been waiting on the sidelines to see what the NASDAQ is going to do. As I posted previously, I like to buy IPO's relative to what the NASDAQ and Internet Index are doing. Based mostly on moving averages, I am sticking my dumb neck out and suggest that the NASDAQ is ready to reverse coarse and head back up. The Internet Index has been trending up ok but is weakening. At any rate, I am going to make a suggestion based on the assumption the NASDAQ will go back up this week (especially after a "no rate hike" announcement that we all anticipate on Tue).

I bought NSIL at 13 (average) on Friday. Technical indicators look very good. Here is how I read it:

Volume- price goes up on volume increase- only drops on volume decreases.

On balance volume: Up trend starting.

Stochastic- Nice break up on Friday (why I bought).

MACD- Crossed over Thursday.

Bollinger Bands- Tightening up nicely (other reason I bought).

Appears to be strong support in 12 to 13 range so probably a relatively safe entry point in case NASDAQ dissapoints.

And of coarse the biggy: It's an Internet high tech IPO half way thru it's quiet period.

Now, all we need is an uptrend in the NASDAQ and it just might double or better.

In my humble opinion.

Trade4$

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