MG, Re: Doji JuJu TA
In an economy move, I gave up my daily updates, and, therefore, my charting capability. I feel rather naked, but I want to see if it makes a difference.
However, I always enjoy your charts and your magic lines. Clearly, the ascent angle on most of the charts cannot be maintained. Financial gravity will come into play.
First, let's look at the OEX. On the latest surge, we blew through the resistance at 534. I show the next resistance at 547/548, the highs on August 25 and April 22. Thereafter, I see some minor resistance at 560, and then, we are testing the big one at 582. OEX 523 continues to be my bull/bear decision point. I'll move it up to 548 should we go above that level.
As to your charts, I'll be silent on AMAT as I don't follow it (like COHU more from a FA perspective). Clearly, Big Blue is running on helium by both of our charting techniques. Ms. Softie is moving on the daily news of the court case, and still at the top of a trading channel. INTC is bumping up against the ultimate resistance. If it breaks through here, it will really get interesting. As to DELL, my TA has never been worth a damn; buy it and forget about it.
Sold my CSCO today at 64 3/8, just too much resistance in this area and, obviously, at the top of the channel (for DJ -- CSCO frequently trades for long periods of time above its channel).
My selling tragedy today was PAIR. I was on the phone answering a stupid tax question and pulled the trigger at 8 7/8. Ouch. On the other hand, I give thanks for the gain since I bought the 2,000 shares last Thurs and Fri. But, I definitely gave up the Big One.
Berney |
