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Technology Stocks : Jabil Circuit (JBL)
JBL 196.60+2.1%Nov 21 9:30 AM EST
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To: kolo55 who wrote (4699)11/14/1998 9:43:00 AM
From: Early Bird  Read Replies (2) of 6317
 
Technically speaking.....
Price for JBL has broken beneath it's upper trend line channel at the same time the 40 day Rate of change indicator line has pierced its own 20 day MA. This is a bearish sign.
Also, price gapped down two days ago, downtrend is continuing on higher volume.
And, last but not least....that last angle of ascent (@80 degrees,) has never been sustainable for this stock for more than a 70 to 75% price increase or more than a measured line of more than 4 inches (on my Tc2000 Charting software).
That may sound silly but angles of ascent coupled with measuring of
a trend line IS endemic to each stock unto itself.
Lest any of you think I am trying to PUSH the stock downward with any comments, let me make clear my position....I DO have puts on the stock, I HAVE been wrong on more than one occassion certainly, And I merely am stating what I observe.
I would like nothing more than for Everyone to be profitable at all times. Unfortunately this cannnot be, obviously.
A few weeks ago I LOST $ for buying puts on this same stock TOO soon because I "jumped the gun" and did not wait for price to CONFIRM
the actual trend reversal I felt was coming.
I am strictly a momentum player, realizing that fundamentals in
this day and age have very little to do with price movements short term.
May the force be with you....
Early Bird
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