I received the following email from an SI lurker (and Motley Fool poster). Reprinted here with his permission:
To: jball@ucla.edu
Subject: NTAP
Please excuse the unsolicited email.
I am not an SI member, but do post a bit on the Fool. I have taken notice of your back and forth with Jakestraw.
If he wants long-term trends then,
- beginning from the high of 152, going through the high in Feb. and right on through the lows in April, NTAP has broken the decending trendline. This break was accompanied by rally to about $25 along with other NAZ issues as the April lows were bounced off of.
- beginning from the high of Dec. 2000 and through to the highs of Feb. 2001 and the highs of May 2001, NTAP has broken the decending trendline which was accompanied by a 25% rally off the double bottom lows.
- there is a strong corresponding declining wedge that originated from the May highs, to the recent lows, and the wedge broke to the norm last week.
NTAP is show amazing relative strength today. This stock is basing, and has been probably since the April lows, and certainly since the middle of June or so. I don't know where it ends up, but it would take a heavy NAZ hit to
revisit the lows again in this stock. IMHO.
I am long the stock and am no TA expert, FWIW. I hope this has not been an intrusion.
Keep up the charge. |
