Hi Cush,
I just quickly ( & I mean quickly<g>), flipped through a bunch of charts... I'm too tired to post them, but I thought I would just post a 'bit' of a heads up... Unless you are really nimble... be very careful of this rally...
On my 4x9x18day ema, I have solid buy signals on cms gib.a sbl aty cdv ebay msft... I have a "heads up" on yhoo, svn, pvt, rim, win, dsg, bii (if your nimble a "heads up = a buy for very nimble traders ie: in after the cross-over of 4ema x 9ema & out on the first 'bad' candle), if your not so nimble get out if the +D1 crosses under the -D1 or when the 4x9 ema crosses below the 18 day ema. For longer term trades less prone to whipsaws, many traders use the 5x21 day ema. ie: buy when the 5 day ema crosses over the 21 day ema & sell when the 5 ema crosses under the 21 day ema.
Most of the other techies that I follow are very close to crossing the 4x9. If we rally in the a.m., the 4x9x18 will become buys... FWIW (IMO, This is probably just a bear market rally that will fool a lot of the participants @ some future point tba. <g>) If I were long, I would be selling the rally to minimize any losses that I might have. Remember, this is not 1998. This is more like 74-75 or worst case (maybe)29-35. Having said that, my long-term outlook for tech stocks & indeed the general market is maximum 60 days. According to the charts, most tech stocks & miners(!) will have a solid rally from deeply oversold levels. Obviously, those companies that have not yet declared bankruptcy<LOL>
All of the above is based on the daily chart, the hourly chart would probably register buys on just about everything except the following gac iw mcl cdv sick yhoo.(the 4x9 crossed below the 18 day ema)... Also note most stocks had a sell-off @ approx. 2, 3:00pm FWIW
Of course I would prefer if the +D1 crossing over the -D1 confirmed the 4x9x18 day ema's. In most of the above stocks confirmation was not confirmed....(not yet anyway)
To whoever maybe reading this, 99% of the time I don't know what I am talking about...<ggg>
BTW, interesting chart (i dunno which thread i took it from)... advisorintelligence.com
Skeptically yours,
Peter |
