Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: James Young who wrote (4561)	1/6/1998 2:55:00 AM
From: Jenna	Read Replies (2) of 120523

EFII...On December 29, the MACD crossed above it's signal line and EFII's price went from a low of 15.625 to a high of 17.750 on INCREASED volume. Today volume decreased and prices were stagnant so I would have sold at this point. EFII has now actually reached an overbought situation with a stochastic of over 80. But even though EFII is still trading below it's 50, 100 and 200 day average, now it is above it's seven day average and approaching its 20 day moving average. I think after a 'rest' EFII will probably take off again. At this point the 'dead cat bounce' is actually over. If I understand the theory (I don't purport to follow it) it should bounce immediately after the precipitious fall to be considered 'dead cat bounce'.. EFII went down another point after the initial drop. If NSCP gaps up tomorrow that would mean it underwent a 'dead cat bounce' but the technical outlook is still extremely unstable as you aren't seeing a bottoming out as yet. For those looking to get in intermediate term I would wait for a real trend reversal and not these so-called fake 'dead cat bounces'.

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