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Technology Stocks : Exodus Communications, Inc. (EXDS) -- Ignore unavailable to you. Want to Upgrade?

To: jason who wrote (660)	6/29/1999 10:32:00 AM
From: William F. Wager, Jr.	Read Replies (1) \| Respond to of 3664

Here's a "technician" who told us to go Short...ouch!..... From : kensey Jun 25 1999 3:44PM Re : vulnerable here to a pullback. (Short Recommendation) vulnerable here to a pullback. stochastic lines falling out of overbought and prices here at 90 ish are associated with 5 resistance points in the past (though a few of these tops are in the mid 90's). is the time now when EXDS takes out all these 5 resistance points? that isn't clear. one must first characterize the nature of trade. if a stock is in a trend, then trade in the direction of macd. OR if a stock is trading within a range, trade with an oscillator. if you can correctly characterize price action of common stocks as living in either category, you will be successful in stock trading. whenever you look at a chart, you should be asking 'is this stock trending or oscillating?' it is always the case of 'which indicator should I use?'. Use an oscillator if price action is horizontal and a trending indicator if price action is vertical. i see more on the horizontal than the vertical. note that it takes time for a trade to pan out. so you must position in stages and react as the story unfolds. impatience is the most common cause of loss. price action for exodus of late is not characterized by trending. a bullish signal was given in mid April when a green bar started to trace when the stock was at 110. prices then went straight down to 60. a red bar started to trace in late may when the stock was at 60. it then went to 90. now a green bar starts to trace ... i characterize exodus as range bound. not trending. if 100 is broken on the upside, thats my cover point. 96 is where i've been leaving out shares to sell kensey ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Hope he covered at "100." <vbg> --Bill