Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: Bosco who wrote (6910)	10/28/2000 3:05:52 PM
From: Logain Ablar	Read Replies (1) of 30051

Bosco: I wish I could say the trend is changing but I can't. Most of the PnF short term indicators actually changed to X's last week so underlying all the carnage some of the stocks are now generating buy signals. I wouldn't bet the farm nor overconcentrate in any one sector / stock but maybe we did bottom last week. I say maybe cause it still doesn't feel like a bottom. The PnF system is a trending system and it is a lagging indicator. The NYSE stocks still look better than the techs. This can also be a false signal so I'm still gun shy. On a separate note I'm still in SSTI. At this level and with its recent guidance I think its a better risk / reward than ATML. SSTI looks ready to break out but I would think we need the whole soxx for that to happen. Tim

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