Three Amigos Stock Thread Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Three Amigos Stock Thread

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Sergio H who wrote (7751)	8/16/1998 10:27:00 AM
From: Doug R	Read Replies (1) of 29382

Sergio, There's a couple technical signs that the R2K is reaching/has reached at least a short term bottom and a small bounce can be expected. It's still too early to tell if a bounce would hold and be used as a base for continuation up or if a more serious bottom is waiting. There's definitely a need for some shoring up of the technicals which is likely to take several weeks. The 388 (current) to 392 (in several weeks) area is the nearest significant uptrending support. If the R2K gets that low and the technical profile can stave off any weakening as it gets there, I'd call that the bottom. On the bright side, the lower 21 day BB was pierced as the 21 dRSI reached a very oversold reading so that could mean it's ready to get as high as 450 from here. That would lift a lot of small caps significantly. APCO is in much the same shape as the R2K (no surprise there, huh?). It is showing a few indications that a bounce is probable but there's still room to go lower. If the R2K stumbles again and drops to 388-392, APCO could go to 6 1/2-6 7/8. It's interesting that I get a first date of significance for the S&P 500 coming up during the 2nd week of Sept. and a trend line intersection on APCO within a week afterward. It's going to be a long month ahead. Once the market decides to get back on the right foot, APCO has a shot at working its way back over 12. IFCI has a technical profile that seems to be ignoring all the carnage around it. Since it's in the middle of a short term rally now, any position taken should be done with half an expectation that there will be a chance to add to it at a lower price (as low as 7 1/2) but over the intermediate term, higher prices should be seen (as reasonably high as 12 1/4 with unreasonably high reaching to 14 1/2). What's your FA take on FRNT and CGPI? Doug R

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next