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.

Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Hermesmann who wrote (22501)	7/12/1999 11:59:00 PM
From: Dennis J.	Respond to of 25960

Sure. Where to from here? 1) In p&f speak, stocks are either bullish or bearish. CYMI has just taken out the bearish-resistance line (BRRL), and must now be bullish. A new bullish-support line will be drawn in after the first reversal and DT buy from here. I would draw a new BSSL in now at 15.5, the low before the first buy signal in the upswing. We should stay comfortably above this line for perhaps a year or longer. So we are long-term bullish. 2) The stock remains short-term bullish until a double-bottom (DB) sell signal occurs. This requires two columns of O's. If a long-pole up occurs with say 20 boxes, some money can be taken off the table on the first 3-box reversal. Long-termers can just hold. Traders can look to sell when topish, and buy at resistance, but risking losing their position, should the stock quickly turn up on news. 3) Since we are long-term bullish, the main issue (to heed) is not to surrender your long-term stock during a minor correction or a head-fake, as sophisticated traders will do everything to make a stock "look" downish. Best to use only mental stops, so no one can see and take them out with an intraday move. 4) Eventually, a trading range will form. Perhaps a triangle or flag. These will usually resolve in the direction of the primary trend, and can be good entry points for additional shares, calls, etc. 5) By the time some bona fide concerns arise, you will have read the book by Tom Dorsey, and be ready to protect your profits. Right now we are about to see a new 52-week high, and then test the all-time high around 45. Hang onto those shares. Even consider buying more. Anyway, that's the way I see it now. And I could be wrong. Dennis