Thread
RE: TA read for week of 4/27/98
volume, volume, volume
Well, last week was very interesting to say the least. Many stocks showing signs of specualtive bubbles. The TA this week took much more time than prior weeks and the list was 1/2 as long. It was very difficult to find stocks which were looking as though they would advance in the near or long term. Also, the internets are not exactly following TA or FA guidelines. The internets which made the list should be considered specualtive IMO.
I am in agreement with Jim in that I feel a correction is due in the next 1-4 weeks. This will be a great time to seperate the real deal 13s from the pretenders. IMO the timing of a correction could not be better as far as the thread is concerned. I know I am writing as if the correction is guaranteed, it is not. But, probability wise, the TA on the indicees suggests we are near one.
The list
No plus 4s
Plus 3
GMGC May wait til Wednesday to go but it has the potential to break out on Monday or Tuesday. Overhead at 7.85 (+.03 each day) will need to be taken out. There is heavy overhead at 8.75 then from 11-15. Very strong in long term indicators and short term simply needs a reversal of the stoch 4,3,2
EWEB could make a good 1-2 day trade. Too much overhead to be considered a good long term hold. Heavy overhead from 2.75-4.25. I may play this monday but will not hold overnight.
Plus 2s
IVIP Has not touched the 9 day MA from last weeks list discussion. Very mixed in indicators. IVIP worries me in that there is divergence on many indicators which is saying that its current price strength is not backed by the underlying technicals. For me this is a good stock to watch, not own. It does however have a couple of very strong indicators. One of which is the 89 period stochs which are working on an IHS break out.
PSIX Could not hold BO of overhead from last week. has a chance to bounce on Monday maybe Tuesday. Not giving it much hope. Good long term watch list candidate.
TRBDF Well really blew my TA away last week. WOW! Long term very strong. Short term waiting for CCI 13 to reverse. 3 day RSI trick for the 56ers out there
CCUR With the volatility of this security it is probably best played as a trader. Looks to be channeling and it is at the top of its channel. It has a history of disappointing after strong runs, this time it may be different. Maybe the FA can uncover some new strength in the business. Break above 4.03 Monday takes it out of its current channel and it should have a nice short term run.
MCLL looking ready for a Tuesday run. overhead at 7.28 (-.03 each day) starting monday
SEVL Looking for a base around 2.92. Thats all I can see. Stocks that do what SEVL did last week are not trading on TA or FA, rather they are on specualtion alone
HHHH good watch list candidate. Heavy overhead from 8-11. Not strong enough to get through just yet. Does look like a short term run is coming Monday afternoon/Tuesday
VRTY see Message 4213449 for the masters view. Mine is the same
HCOM Watch for a base around 7.50 if it fails 4.00 is next step down. Another one of those WHAT DO I DO WITH THIS CHART CHARTS.
BEAM long term watch list. Not ready for run
MARG YEA, RIGHT. Long term is strong. short term base around 6.75 should form. Who knows???????????
ROSS Late this week watch for CCI 13 reversal. good trader right now. In heavy resistance area. Would wait for break of 6.36 two times before initiating a long position.
PQT Watch list candidate. not ready for a run just yet
DBCC Long term down trend sucked it back last week. Long term not real strong. Short term weak. good watch list candidate for down the road
ALMI IHS neckline break out last week. Looks to retest the neckline Will need to be reevaluated on a break from that line.
MDCD Coming back to retest IHS neckline from last weeks breakout. Lots of overhead 6.25-7.75. Long term strong. Watching for CCI 13 reversal.
FAXX Held gain well against profit taking on Friday. Expect a retest of the breakout line (3.60 area) WAtch for CCI 13 and stoch 4,3,2 reversals 3 month target 6.50
BJCT Serious overhead 2.50-4.00 Long term strength is setting up to break the overhead. Looking for a base around 2.43 while it builds its strength for the big run
PARL forming MIM. Long term watch list candidate
AILP Currently in a channel. Could go either way this week. If up it needs to break out of current channel to really run. If down look for consolidation around 3.30 area
MADGF Big gap to fill to 6.25. Good long term watch list candidate.
ISWI Need more data.
BBTK Base around 8.75. Long term nearing very strong area. Looking for a base around 8.75. Watch list candidate
PRZM Forming MIM. Long term watch list
VSNR Long term watch list
Thats all folks
good night
ht
david |
