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Strategies & Market Trends : Three Amigos Stock Thread
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To: pipick who wrote (16915)10/10/1999 11:47:00 PM
From: Ken W  Read Replies (1) of 29382
 
pipick,

FA has nothing to do with ACRI right now. Long term it may, but sentiment and human emotion are what drive stocks like ACRI. How I make a statement that it will be a trade opp is indicated here. siliconinvestor.com

15, as we said will be a short term support spot. Note the STOCH's turning up. Swing traders took their position on Fri. and will sell for the 1 point swing to 16 or just under 17 if they are lucky. Once the stock breaks down under 15, 12 is the next stop down. The next swing is between 12 and 15. Break under 12 is down to 8 with next swing 8 toward 12. The stock is now in a downturn and broken under the 120 day moving averages. Upside is risky, downside is the better trade. I say trade, because that is what it is, not an investment. Note the action, on a press release on Fri? Sell off. Any strength meets with more selling. Remember when AOL was being targeted at 225? The stock was selling at 160 and has since worked it's way as low as 77. Sentiment changed and thus the downtrend.

Hope this all helps pipick. I respect your opinion and DD on the stock, but FA wise I just don't trust the situation. The recent release about the convertible debt to soundbreak.com just re enforces my feelings.

Ken
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