I knew I'd get at least one person's attention with
that comment. You were the only one man enough to
step up to the plate.<g>
OK, I looked at the trendlines, and yes, nice coincidence
that we stopped on the mark.
I noticed the 20DMA is very close also.
The problem with TA this month, is that, besides
earnings news and end of the year market movements, there
are lots of extraneous events (ex. Clinton) going on.
TA models supply and demand, and it seems that this is
a month with too much variability to model supply and
demand as they would "normally" happen.
Otoh, traders will probably try to stick to the model as
long as they think it might hold. We shall see.
Low volume (as Moons pointed out), is apparent. No big
trades today (except for two); most was small fry stuff.
Are heavy duty shorts looking to come in? One could
argue that we're seeing some consolidation from some big
upward moving days. Remember, this stock can go up
3-5 pts on low volume as we've seen previously after
some consolidation. LOTS of people know this and don't
want to take the chance of missing out. We shall see.
Sure, it looks like the market is trending down for the
moment, but I'm starting to hear a lot of salivating over
TECH BARGAINS. We shall see. |
