Silicon Investor (SI) -- The First Internet Community

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.

Gold/Mining/Energy : Position Trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: Bill Rinker who wrote (1340)	6/24/1999 9:30:00 PM
From: Ward Nicholson	Read Replies (1) \| Respond to of 2259

BBD.B: Do you think it'll bounce off the BB now? or being it crossed through the 200 day MA, do you think it might drop to support level of $20? I'm not really a fan of Bollinger Bands, so I'll pass that on to someone else. In looking at the 200-day MA or EMA I think the important concept with BBD.B is that when it trades around this average, it's time to begin accumulating. I've never taken a cross of the 200-day MA on the downside to be a sell signal. So, now we get into the grit of support and resistance levels. I consider BBD.B to be a technically pure stock. The round price levels tend to act as support and resistance. In the short-term I think $21.00 is the floor. We'd have to get some more serious selling in the general market to have BBD.B break $21.00 in the next week or so (who knows...this may happen tomorrow if the DJIA decides to trade towards the 10000 level). I think $22.00 will act as a resistance level for the rest of the summer. That was a substantial support level in my mind. For what it's worth, I consider BBD.B a good buy in the low $21.xx area for a short-term trade. The U.S. market seems to be factoring in at least a 25 point hike, if not more. I think that we'll have a decent rally once the U.S. Fed actually raises rates. I'd be selling any long position in BBD.B into such a rally with an eye to accumulate it again at lower levels. WN