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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Top Jim who wrote (72637)11/21/1999 4:28:00 PM
From: Jenna  Read Replies (4) of 120523
 
INSP: You are not seeing mixed signals.. You are a longer term holder so you should be looking at the longer term chart for your 'core holding' and the short term chart for some "bearish chart formations' that might lead you to decide to get out and give INSP a break and re-enter at a later time. You are seeing a reduction in volatility as the stock resolves itself and decides whether it will continue to trend upwards.

A super classic buy was triggered on the November 16 after 3 bearish candlesticks. A really perfect buy signal, (from 55 to 60 according to whichever strategy you used) this buy spiked the stock all the way up to nearly 93 on the 17th.. I would have exited and 'taken the money'. The uptrend is so strong that the ADX is still moving higher to a 45.79 even as the stock has now reduced volatility and is getting ready for another breakout.

What you see is a spike which I would have sold at the high because this fabulous stock is going into 'a little rest'.. which you are seeing in the short term 10 minute charts. ADX is going back to a low 20 and there is a little tapering off of volume. That is where you are getting your little 'conflicting signals' from. If you look at the 10 minute charts you can see there is little activity in each bar as sellers are being shaken out. That bottleneck you are seeing is the 'rest' which no doubt will lead to another breakout or even the possibility of a reversal downwards (which you really can't tell until you wait a few more bars).

In stocks that are high flyers, you should always have a daily chart to detect major trend changes and the 10-15 minute chart to detect the minor intraday changes, for even more trading possibilities. In some cases you can be a holder of a good stock that is in a daily chart consolidation (flag formation or rectangular formation - continuation patterns) and still be making money off the intraday bullish charts.

You should have your answer in the coming days probably even tomorrow, I would watch the intraday charts for resumption of uptrend which you will see more quickly than in the daily chart.
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