SI
SI
discoversearch

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 : Charts With An Attitude; Trading In & Out
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ocote who wrote (4395)12/21/1997 9:38:00 PM
From: Dave H  Read Replies (1) of 4701
 
Hi Ocote,

I looked at CNTO initially after hearing about its drop. I then pulled up the chart and I saw no real support except at the 23 level (only horizontal) and the 13 level (the only trendline support left).
I think this one is a screaming short....yesterday's action I think was due to the market sell-off; I've found (so far) that heavily shorted stocks seem to go up on general down days, which makes sense seeing as shorts have to cover to take their profits which will send the price up.

I think there's a good chance for this one to close the gap it made in the end of 1995. FA wise what is holding this stock up? what are people anticipating? I see a return to whatever acceleration line this stock was on before all they hype started on this drug that is turning out to be a no-show.

I feel that 33 is where I'd like to see the stock find resistance-- that's from the neckline of the downtrending H&S I drew. Personally, I think it has a good chance to start falling again monday.
Once everyone stops playing this stock for quick daytrade profits, it's gonna sink... question is, how fast.

i *have* to get that demark book-- it sounds great! does he predict how long it takes for retracements to occur?

-dave
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News