Arch:
Your list of OAKT VTSS MCTR STEL NVDA MVIS:
Which of these companies has significant insider buying?
Just glancing at the charts (daily and weekly), I would be most hopeful on OAKT VTSS and STEL. The others' charts would appear to have more work to do on the downside, but that's just one guy's guess.
Going a little macro here, IBD today has a graph of the 1929 Crash and the 2000 Naz Bubble Top and, as these graphs always are, it's a little eerie.
Using the 89% selloff figure and a variety of starting points, I tried to get a sense of where the Naz might actually bottom. Don't try this at home kids and always wear safety goggles when using a Bunsen Burner.
My assumptions are we are going to hit a near term low very soon here, rally a bit then fade in August. Except for energy names and special situations (collapsed stocks), I won't want to hold anything after August 15, and feel that September or October will yield us up one of these lows, in descending order:
1225: this represents an 89% retrace back to the 1995 level of roughly 750. Why? Why not?
1123: I forget where this number came from, but it's on my sheets. It's a retrace to somewhere.
1092: This is 89% retrace from the 2000 high to the 1992 low of 603.
1035: This is 100% retrace to the 1995 level.
603: 100% retrace to 1992 levels, a mega Fibo retrace.
Just hacking around today, as you can see.
Kb |
