Full Disclosure Trading 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.

Technology Stocks : Full Disclosure Trading

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jacob Snyder who wrote (4794)	3/17/2003 5:31:30 PM
From: Return to Sender	Read Replies (1) of 13403

Jacob to expound on the technical situation just a bit I would like to add the following. The 5-day Trader's Index (^STI.N), which is the five-day sum of TRIN, gives buy signals above 9.00 as it did last Monday. It also gives sell signals when it is below 4.00. It is now reading a dangerous 4.43: finance.yahoo.com^STI.N&d=c&t=5d&l=on&z=b&q=l table.finance.yahoo.com^sti.n&g=d Therefore this indicator and some additional sentiment data like the rise in the VIX today with a falling put to call ratio suggests that stocks are vulnerable to a short-term move lower perhaps as early as tomorrow but no later than Wednesday in my opinion. I moved up my time table to a Wednesday sell off at the latest due to the incredibly strong close today. Furthermore any time an index reaches an RSI nearing 70 it is extremely overbought. The SOX is getting close to 70. I guess that this time around the rally is coming in anticipation of the war. You can only push a market so far without expecting it to at least consolidate a while. Ultimately the market will need fundamentally sound reasons to move higher and not just hopes for a short war from a questionable bottom. RtS

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next