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Technology Stocks : Oracle Corporation (ORCL)
ORCL 197.49+1.1%Dec 24 9:30 AM EST
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To: WBendus who wrote (6796)4/6/1998 4:34:00 PM
From: Sabrejet  Read Replies (2) of 19080
 
It's amazing how some of you come out of the woodwork when issues appear to be destined for the obvious! If it's running hot, people like yourself are "I told you so's..."

Read what I said again. No one should ever trade with moving averages alone. Breaking a MA is NOT a negative unless it stays below that average. A breakdown in volume and a fracture of relative strength are leading indicators. They, (MA), are used to support data rather than predict data. Please write that down.

(1). ORCL is under accumulation NOT distribution. Check your charts. This retracement is healthy in that it's current run from 18 was basically uninterupted.

(2). There was no base from 25 to 31+ so support cannot be defined. We all like to throw the words out about resistance and support but for most people we are referring to "short" term, and under this run, it is irrelevant.

(3). Short term, this is oversold. Run a short term stochastics of about 4-2-2.

You said: "Technical analysis requires no pre-existing conditions in order to have any meaning drawn from it." I disagree with you again. FUNDAMENTALS have to be in place for TA to be effective. Fundamentals are in place here but your TA and mine differ.

seczebra
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