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Strategies & Market Trends : Automatic

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To: ken-l who wrote (423)8/10/2001 6:37:04 AM
From: robert b furman  Read Replies (2) of 470
 
Hi Auto and AT,

Well I'm done with my road trip buying vehicles of value so my day job can support my trading habit.ggggg

Here's my contribution to the GURU Spin on this high value thread:

MORPH to the side and a triple bottom that went in place yesterday afternoon.Oversold conditions were achieved on the 30 minute charts.Support was found on marginally higher lows in the following: DJ-30,Russell 2000,NAZ,S&P 500.

Now here mayties is the very subtle shocker that becomes the clue of the day. The sox found support and did not go down to marginal triple test lows.That's right all the big houses said NOPE don't touch - there dead WAY OUT IN TIME- and then snuk in there and bought-em.

My leaning over the abyss (fearing no losses)is to buy NVLS.This stock is a daytraders dream - huge price swings and liquidity.So I'm jumping on the doji with the belief that the sox is showing stealth buying in the sector.

Remember where you heard it first - so you can observe a classic crash and burn from beginning to end.gggggg

Bob

Really is just a boring sideways market - where buying on dips will reward us - over the longer time periods.JMHO
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