Lin Huan, you don't have to convert me. I'm a 100% TA believer. TA works very well for most companies but it doesn't seems to work very well for companies like INTC, MSFT ,CSCO and YHOO. TOO many people buy these stocks without knowing anything about them, like I have relatives who don't do much researches but they will tell you to buy Intel, Microsoft and Cisco no matter how high they already are.
I subscribe to the TC2000 charting services, it had been EXTREMELT bearish (and correctly so) about coms since Nov. It has just turned bullish last week, TC2000's calls has been mostly very accurate :
TIPS & HINTS (Wednesday March 4, 4:00 P.M., ET)
The last time we mentioned 3Com (COMS) was November
5, when we said: "Bouncing. However, expect it to test
the April bottom before this is over. And that's a long
way down." It was then at 43.6. The intraday-low of the
April bottom was 24. Within that month it plunged 15
points, approaching the April low but holding
comfortably above it at 28.5. It tested it again in
January, dropping to 28.3. By this time a pretty good
base had formed. Another couple of months has been added
to that base. Today, a weak day in the market, we find
an upside gap on good volume, the first try to break out
on the upside since the base started to form. The
formation should be viewed on a daily chart, then on a
2-day chart, which shows the overall formation very
nicely. BOP isn't showing much, but a positive TSV
divergence has edged upward since the November shakeout.
The first objective is the October high in the mid-50s.
We don't expect it to get there without at least one
correction along the way, but we do think the primary
direction is turning rather convincingly upward.
Mang |
