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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: starbreak who wrote (27458)	12/23/2000 10:05:28 AM
From: chartseer	Read Replies (2) of 53068

VRSN: You may very well be right about there being more upside. I don't know. HDI: The reason I have no comment on HDI is because the chart has many contradictions in it. I hate contradictions in a chart. I could very well make a case for it to go down or I could make a case for it to go up. You see PnF charting is not an exact science. It is not even a science. It is an art. Not a very exact art either. The HDI chart if turned upside down would be very bullish but right side up is not very bearish only bearish. The reason it is bearish is because it has given two sell signals. Three if you count the bullish signal reversal. It also has broken the the long term Bullish Support Line (BSL. On the other hand experience has taught me that being this art is not precise the BSLs are not always right on target and can often be a few boxes off. Therefore HDI may still not have actually broken the BSL. If you look to the right you will see (1) this stock has bounced off of 24 once before (2) further to the right you will see this stock had resistance at 21 on the way up. Previous resistance is believe to become areas of support. I believe that this stock has a likely chance of bouncing here because my gut tells me it is 2/3 of it's way in building a classic head and shoulders pattern. When I look at this chart that is what I see. The pattern that quickly comes to mind is the "Classic Head and Shoulders Pattern". But I am often wrong. Very often wrong. I often see head and shoulders pattern every where. I also believe it is easier for a stock to trade between it's Bullish Support Line and it's Bear Resistance Line than to break either. I also believe that rarely does a stock spike up or down without retacing it's self some what. Rarely up until the past two months that is. After all the people who make the markets need a breather to replenish their inventories or their bank rolls. Always remember that when you and others are buying someone is selling and when you and others are selling someone is buying. This would also concur with my belief that the specialist is very long HDI and needs a relief rally about here to convert some inventory to capital. Neither VRSN or HDI is a chart that I would buy here. But that is what makes the stock market. That is also to say either if not both could very well go up especially in this rally mode we are now in. Rally mode in a bear market where rallies are fast and furious. That being said I prefer charts like this one that show me a definite uptrend being in progress despite being in a bear market. xocharts.com ACMR is a specialty retailer whose chart is bucking not only the market but the retail sector as well. This tells me that there is value here. The demand is outpacing the supply. Compare the Chart of ACMR to MIKE the leader in the industry. Something is happening here and I am in on it strictly based on the charts. The charts are telling me that despite the retail slow down ACMR is going to have a good year. A better year than MIKE. xocharts.com finance.yahoo.com A better year than most other retailers. When the retailers and MIKE turn around this issue should explode. Too bad this art isn't precise then I could mortgage my house. then again what the heck do I know? chartseer

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