Sigmund and all interested parties:
Sigmund and all others, you want a buy signal? You got it. My friend says THQ went to buy meekly Friday at close. He says that it could easily reverse Monday morning with weakness in the market. Therefore, it was a buy signal but not a very strong one @ 19 1/4.
Someone may have hinted that I was hyping TA. Ummm, I don't think so. Someone may have hinted that my friend was fictitious. Ummm, I don't think so. You got a sell signal and were out of the market for the huge downfall that occurred Friday in the overall market. There are "other" reasons THQ didn't drop badly and if those reasons were not in place, it would have. Someone asked about me explaining my friends system. I don't fully understand it myself and even if I did, I would not attempt to explain it and neither would he. I know it works. I have nothing to prove. And, this is the last signal. No sell signal on this one. I don't appreciate some of the "noise" being pointed at me. Obviously these are short term trades and obviously these aren't for buy and holders. And don't come throwing that, " this is an investor's site," at me. People here want to know about these signals or they would not have e-mailed me about them. If you don't like reading them, skip over my posts. But that shouldn't bother you much longer. Oh, and another thing, the sell was at 19 1/2. The buy was at 19 1/4. Generally, my friend makes a bigger gap but that's still
$ 250 on 1000 shares AND out of the market Friday which could have been a lot uglier. Besides, these signals work best for evaluating the market as a whole. The macro picture.
By the way, THQ is trading exactly in Dec 97 as it did in 96. My friend says, (and I agree), that a nontraditional double-top has occurred just like in '96. This kind of information is what makes TA important to every investor AND trader.
Oh, BTW, he got a strong buy signal in Iomega on Friday at $ 24 5/8. That's it.
Good Luck,
Vic |
