>>A follow up by COMS tomorrow is VERY important. We don't need a gap up open here, but a higher high is a MUST.<<
exactly!
>>
<<but something about today didn't seem right...
maybe it's just my imagination.>>
Any elaboration on your imagination ?
<<
I'll try to see what's bugging me:
1) The first 1 hour seemed like a continuation of yesterday,
but with more volume. I didn't like the first hour at all,
but it made sense at least with the previous few days.
I thought we were definitely going lower. Then we jumped
up very fast. This was timed pretty much with the entire
Naz getting a sharp boost. You can see it in DELL, MSFT,
CSCO, and even INTC. In fact COMS sharp upward movement
lags about 15 mins or more compared to the charts of the
others. What boosted the other big caps was 2 reits
of Motorola. The market at first was timid, not from
Motorola's earnings number, but the fact that they said
the next two quarters were going to be tough, meaning
that the E.Asia problem is still going to be around for
a while.
2) COMS does not usually trade with the index, unless
it's pretty strong. So, when COMS went up fast, I wasn't
too sure what it was. Is this institutional $$ style to
get involved?
3) But you might be right about the 50 dma, since the
rise coincides with that well and maybe traders
tune in on that.
4) When I think of traders being involved, I think of
profit taking at the end of day. And that's what we
saw...but there was resistance against the profit taking.
I hadn't seen that in a long time, but it didn't seem
that powerful. If you look at the other big cap charts,
there is very strong finishes. COMS did not have a strong
finish...but it's better than normal since many times it
gives up its profit...many times one can see this immediately
around 2-2:30.
5) The bottom line is institutional investor's need to
be buying this stock for it to go up consistently...I'm
not sure if they're ready yet.
6) Maybe we're having a little bit of all types of buyers.
And we just have to wait and see what happens....
7) It's also possible that yesterday was just 'oversold'
and investor's were waiting for a market wide move...
any thoughts...if this is confusing, just ignore it<gg>
I might be overthinking this thing...
joe
PS...I think what we need is some reits or upgrades. Some
sign might be good.... |
