Trend Setters and Range Riders Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trend Setters and Range Riders

MSFT 476.08

0.0%

Dec 17 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TWICK who wrote (20938)	7/19/2002 8:43:18 PM
From: Susan G	Read Replies (3) of 26752

It's smart to be patient <g> That's coming from a former knife catcher LOL Although the NDX has held up lately, due to the rotation out of the NYSE and DOW stocks, and because the techs look "cheap" (NOT!) I believe it's just a pause in the downtrend. I wouldn't trust the NDX stocks just yet. Remember it led the way down, even ahead of the compx, and this may be just a dead cat bounce. I don't see a bottom being put in until everyone gives up on stocks and stops looking for the damn thing <g> I'm sure there will be many tradeable rallies in the final search for it though... Especially if you see the bearflag - a bearish CONTINUATION signal forming on the weekly chart...and no sign of a bottom formation, in fact the last candle is a very bearish shooting star. Not even a sign of real bottom here. And what about a base <G> A true bottom will prove itself by forming a base after it hits the low. This index has not had a healthy base since 1998. It will need to do it now, and it may take many months until we can look at a stock chart and see signs of stability. BUT one positive - there have been 3 legs down in the move from the January highs (you can see them on the weekly), 3 is common, in a really weak market you can get 4. But often the sudden reversals come off the third leg down and there's a move up - like a rising wedge on short covering, before it continues down. A "trustable" bottom should be more of a classic reversal pattern like the perfect morning star reversal at the September lows. Even those don't always mean the bottom, check out the 2nd morning star reversal in May, that failed totally. Only after everyone went long on that bulltrap of a green candle though... mywebpages.comcast.net

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next