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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: LastShadow who wrote (2503)9/8/1997 7:28:00 PM
From: Paul Dubsky   of 120523
 
Last Shawdow -

What's your response to this post I received from GR at the Technical Indicators Page regarding SGI? (You had previously mentioned that SGI and PETM were the two you liked in my portfolio) -

I think there is a rotational shift out of large caps to small caps underway.However we
donty buy markets we buy stocks.I recomended KM at around 11 purley on technical
reasons.I could be wrong but i wouls sell at this level.Macd is at max top indicates
short term top.RSI,W%R,Stoi all confirm overbought territory.Candles are
indicision.Ithink it will retest 13.87..NOT a buy at this point. SGI again all indicators
are overbought,macd is NEGATIVE downtrending mode.Not a buy.short it.VLNC
could go either way macd in uptrend but histogram is divergent.probably a weak buy.

SGI has been very interesting the last week, going strong all day long, then closing weak. If I had to interpret it, I'd say that "someone" knows something (bad) and is getting out at the close in case the company releases the news after the bell. Once the company remains quiet, the traders are back in the next day, participating in the intraday rally of SGI, but getting out at the close.

Any other thoughts?
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