James,
Sorry, I just don't see it. My IQ charts doesn't recognize
FSTCX and the silicon investor charts won't give up stochastics data for that symbol...
However, looking at SI,s chart, I see we just had a hard run-up from around 65 to over 80. The price cut through the MA's
like a knife through butter and the fast MA crossed the slow
MA going up. Now, the fast MA is threatening to cross to the
downside, and the RSI is falling as well. Frankly, I see nothing on the chart that makes me want to rush and grab the telecoms.
As far as "oversold" , besides not being able to see on the
chart with indicators this condition, I would point out from my experience, there is no rule about oversold stocks not becoming even more oversold! Since your chart shows
nothing to state your case, I'm afraid your assumption could
be dangerous to ones portfolio and I might suggest a bit
more study before jumping in.
BTW, specific stock charts have always been more helpful than
sector charts...was there a specific issue you had in mind?
Good trading.
Eichler |
