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Strategies & Market Trends : Technical Analysis - Beginners
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To: Michael Watkins who wrote (11553)2/12/2001 2:49:46 PM
From: TechTrader42   of 12039
 
There were clear signs in EMLX's chart that it was in trouble. MACD 13/34/89 was trending down, among other things. Also, it had broken down through the 50 SMA, and that meant that it would probably work its way down to the 200 (but in one day?). I don't think there were any clues that that it might suddenly fall in half. Except for this: the P/E. That was the real tipoff. It's happened in lots of other over-priced sectors during this bear market. It was just a matter of time with EMLX. NTAP's P/E is still 136, btw, hilariously enough. I think we should allow P/E in the TA clubhouse, if only as an employee in the restaurant.
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