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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (4039)	1/20/2005 12:46:07 AM
From: Walkingshadow	Read Replies (1) of 8752

I am still mystified by RSTG. Volume has come down some, but remains very very strong. The stock is one of the few out there that seems oblivious to the general market. I think the last two candles have established a new support level. Don't know if it will hold, but it seems that RSTG is determined to maintain its strong uptrend. If it ever corrects back to that 20 ema, that would represent a golden buying opportunity. By the way, don't know if you saw this or not, but EBAY was down about 12% in afterhours after missing earnings and guiding downwards, and all the internets are down in sympathy. I thought tomorrow might be a bounce day, but after that, and the other bad earnings news out there.... Now the index futures are trading significantly down. Crude oil is also trading down a bit, and appears to be correcting in an orderly fashion as we anticipated. I'd say we are in for a gap down at the open, but I also think a bit of a relief rally later in the session is in order. It is starting to look like the anticipated short-term uptrend might not materialize, and that instead we will just proceed with the medium-term correction. Volume patterns look improved for the long term, and suggest even more that the long-term uptrend is fully intact. T T

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