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Technology Stocks : Future earnings for JAVA
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To: Geoff Trachtenberg who wrote (666)11/28/1996 12:11:00 PM
From: JPM   of 918
 
Geoff:
I agree with you on using 10, 20 and perhaps even 30 day MA's, to support a reasonable trading time, however if you are trading with a shorter time horizon they may be useful. I for one do not subscribe to day trading.
Now, for your "buy signal". Again, what the heck are you looking at? You say the 50 and 100 day MA are about to touch? I agree. The 50 will cross the 100, to the downside if anything!
Another thing. You said "I think its unfair, that people such as yourself say a stock is going to the low fifties withou backing it up". I did back it up and I'll do it again. The stock based briefly from late July to mid September in the 53 1/2 to 54 1/2 range. The 200 day MA as I stated is at 54 3/4 to 55. That is where the stock could drop to.
One final point while I'm at it. You said "One of the unfortunate side-effects of this medium is that it equalizes the playing field so much so that you can't tell the difference...etc." Of course it levels the playing field! Hallelujah! It's about time. Especially when you can back it up. My friend, stop whining about the medium. SUNW doesn't know
who owns the stock. This medium will little effect either way. The only credibility out there in the final analysis is price and volume.
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