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Technology Stocks : Exodus Communications, Inc. (EXDS)
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To: JakeStraw who wrote (2947)1/1/2001 2:25:29 PM
From: Dave Gore  Read Replies (3) of 3664
 
Jake, with all due respects charts are often far from accurate. Could a chart have predicted a 9 point rise in EXDS's stock in 20 minutes or so, as happened a week or two ago?

Could it have predicted a 16 point drop in a few days?

Could charts have predicted ELNT's rise from 20 to 29-3/4 last week or its fall from $45 to $20 over about a 3 week period?

The answer is clearly "No".

I have no problem with you, Jake, and your opinion either as I am told you a good guy but it just looks a little suspicious when people "hang around" a stock they don't believe in or have a position in. It makes it appear that they are either short or looking to buy in cheaper. If that is not the case with you, then I apologize.

Regarding charts, I agree they are very necessary and useful in stocks that trade more or less "true" and are good for finding support/resistance and "pivot points", but I don't believe any charting system on earth would have predicted either ELNT's or EXDS's wild action over the last month or so, just to name two. These two stock have clearly defied any charting logic and fundamental analysis as well.

PS-- I would love to hear the stocks you like, if you don't mind sharing, and what the charts are telling you. By sharing our ideas it increases all our odds of success. One charting service I use thinks that ORCL is a good bet for rising in the short term with "up" wave momentum and good short term strength.
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