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Non-Tech : The Critical Investing Workshop

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To: Voltaire who wrote (7835)3/16/2000 8:13:00 PM
From: Jim Willie CB  Read Replies (1) of 35685
 
snapshot TA on QCOM, CREE, ELON:

QCOM is showing a minor stochastic crossover now
(it is closing toward highs on daily basis)
also, seeing minor bullish divergence now
(depth of recent decline was short)
looking good going into next week
lastly, showing excellent relative strenght
(up 10 since last friday noon, despite Naz pain)
Moving Avgs are aligned nicely, for two weeks now
solid base for next moves

CREE is showing poor daily stochastics
it closed today 14 pts off lows, but 17 pts off high
its relative strenk indicator is at 50 level
last few times it got to 50, it reversed northward
support was 160 then 140
slammed thru 160, seeing support bounce off it yday only
saw support bounce off 140 today, with better close than yday
50day Moving Avg is at 140, so should be strong support there
but shorterm MA and nearterm MA just crossed over (bad sign)
this downmove was with increased volume (bad sign generally)
volume was so great that one could make the argument of climax selloff

ELON seems to have found support at 95, which is old ceiling
today saw a retest of 95 support
could be a technical springboard if holds and techs march
relative strenk is steadily IMPROVING
breakout is INTACT

/ Jim
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