Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Chris who wrote (9419)	6/19/2001 10:46:50 AM
From: TechTrader42	Read Replies (1) of 52237

The daily breadthalyzer market indicators gave the long signal yesterday. The weekly charts did not confirm. In fact, they're saying the opposite. Also, individual charts continue to look iffy at best. Look at your MACD plot with them. And many -- including MSFT, for example -- still have gaps to fill. I know people are looking for a summer rally, but what if more warnings quell the enthusiasm again? ORCL actually missed with revenues, but for some reason, everyone seems to want to rush in and buy it this morning. Take a look at MACD. And take a look at its P/E. The stock is overpriced. I'm not inclined to be bearish or bullish. I'm just looking at the charts. I can't seem to get myself to rush into the circus tent. A pal just sent this note: "The ndx gapped up and giving a hanging man right now."

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