Dear Kathleen Tanzy;
Yesterday around 11 a.m., you made a couple of calls using technical analysis. I would humbly and sincerely ask you to be aware of the following:
When you say things like "the SOX has formed a double top, and that is a bearish signal" you are forwarding a judgement based on one particular kind of technical analysis. In actual fact, that double top someone pointed out to you followed another top that was higher...therefore by strict definition, your double top is not a top. Further, other forms of TA show clearly that the overall trend will continue, and the trend is up.
Next, someone told you that Cisco "needs to stay above 60 or it is a bad sign for the NASDAQ". (You actually said this on Monday also.) You passed this information along as if it was coming from you. With all due respect, I don't think you understand enough about TA to make such a call. In my personal opinion, saying something like that is silly. It's based on a very rudimentary understanding of TA, and in fact, CSCO could break down to 56 and there would be no problem at all with the stock itself or with the market. The overall trend is up, and shows no signs of changing right now. A break below 60 on CSCO would be an excellent buying opportunity, not a "bad sign" for the stock.
Please either pass along the source of the TA calls you make, or don't make them at all, because people are buying and selling stock based on what you say. Whoever is feeding you TA info is either a rookie or is not telling you all he knows.
Thanks,
TLC |
