Continuing the IFMX discussion and more... 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 : Continuing the IFMX discussion and more...

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Robert Graham who wrote (128)	9/3/1997 10:55:00 PM
From: Robert Graham	of 206

I forgot to add that the IBD ratings on this stock are 89/73/B/B: an earnings growth ranking of 89, a erlative strength ranking a weaker 73, an accumulation rating of a "B", and an industry group ranking of a "B". It is important to choose companies that are part of an industry performing well in the stock market which is evidenced by the "B" industry group rating. The relative strength rating of 73 concerns me. But this may pick up as the breakout continues. However, IMO this stock will be sensative to market fluctuations. The market held up well on a day I was expecting a correction considering the record setting day of yesterday. the Dow broke through its 50 day MA and is coming up to an imortant resistance level at about 8050. I suspect the market as represented by the Dow is not ready to break through this which means that an uptrend is not ready to take place. Also, there is still a downside potentia to the Dow from where it is at right now. However, it looks like there will be no continuing downtrend but at worst a continued consolidation. The Dow is hitting its middle Bollinger band which supports this view of mine at least for the immediate term. The recent strengthin the market does indicate there is still alot of bullish sentiment underlying ithe recent pessamism in the market in terms of pent up demand. Many have been sitting on the sidelines waiting for their opportunity. Some of those bulls jumped in yesterday and kept the profit taking from causing a drop in the Dow today. Also, the technicals for the Dow and NASDAQ are looking very good. This is a very good sign for the future prospects of the market. The current fundamentals of the market defined by contnued earnings warnings in the tech sector, the move up by the long bond's interet rate, the pessamistic investor expectations of the upcoming employment report this Friday I think will help to keep the market in check at least for the rest of this week. Bob Graham

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next