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Strategies & Market Trends : Technical Analysis - Beginners
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To: Trader X who wrote (11517)2/10/2001 3:01:09 AM
From: Michael Watkins  Read Replies (1) of 12039
 
Just reviewed 138 charts - basically anything that traded on average 4M or more shares over the last year. Its my stable of stocks that I care to watch and occasionally trade.

Some of the chip complex stocks look relatively better than the rest, but its a minor distinction.

What really strikes me are how few of these stocks have been in any sort of uptrend. The NYSE / 'old economy' names are all looking pretty close to falling over right here and now.

Then we have names like SUNW and NOK who are at the recent swing low from earlier this year, already and ahead of the averages. While I can easily conceive of a scenario where things bounce, simply because many will want them to bounce, I sure wouldn't be councilling anyone other than the ultra nimble to even bother trying.

PS, try looking at INTC on the weekly chart.

The positive I can take away here is that it will soon all be over.

LOL!
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