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Strategies & Market Trends : TA setups-ex th traders

DIA 501.35

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Feb 11 4:00 PM EST

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To: MACD X who wrote (3097)	8/29/2004 4:44:14 AM
From: cthruu	Read Replies (1) of 7682

Heheee. Do you want me to give out the secrets of my analysis, huh? I posted the following message on 8/4/04, before I went on vacation. That was before the 8/11 gap. Message 20376452 In my opinion there are no indications of reversal of this trend in SMH at this time. If the bottom was 28.30 on 8/13, it would have been in the middle of nowhere. The MA's on my chart are 13 (red),26(green) and 50(blue). SMH is trending below all three steep MA's. I expect a bounce from 26.50 area because there are two previous spikes and a previous bottom there. I do not know if that will sustain or not, but if the trend were to reverse, it should be in that neighborhood - or next, 24.50-25 gap. I need to see a reversal and a successful re-test to be convinced of a bottom. ttrader.com I need someone to show me why there is a bottom. Forget the bull/bear sentiments or put/call ratio or such other contrarian indicators. They don't mean anything. By the way, I do not like to trade SMH. Too slow mover and low volatility for my taste. I look at ETF's for trend and trade one of the high-beta components in that group, if I like. That is just my style.

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