The 56 Point TA; Charts With an Attitude 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 : The 56 Point TA; Charts With an Attitude

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Michael L. who wrote (13100)	3/6/1998 9:45:00 PM
From: Ocote	Read Replies (1) of 79270

Michael-- I do not feel CPQ can turn on a dime. 1. A retest of a low is needed in most cases, so no reason to rush in! 2. Look at what CPQ had to do when it hit "bottom" on 10/28. It still had to fall through a head and shoulders to hit a low of 26(which a made a few cents on shorting). 3. Support at 26-27 seems possible, but if it fails, which is also possible, things could fall back to the old trendline which is now at 22or so. 4. MAs are trashed. 5. OBV looks poor(along with the 90day moving average). 6. None of the major stochastics has hit bottom. 7. CPQ's rally coming out of the 10/28 was weak compared to Dell and many other techs--wish I'd gone long Dell instead of CPQ. I don't know if any of this is worth a hill of beans, but there you have it. Ocote

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next