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Technology Stocks : NOPT: Northeast Optic Network, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Kailash who wrote (298)	7/23/1999 10:11:00 PM
From: ahhaha	Respond to of 708

OK. We'll talk price and technicals. I don't agree with your classic H&S interpretation. Every trade data shows that the marginal sensitivity has moved to the upside. That means marginal supply is disproportionate in downside price response than is marginal demand. The instantaneous state is price inelastic to the upside, but elastic to the downside, and the persistence on the downside is minimal. Further, neither downtick concession nor intensity of marginal supply is large. The stock is short term sold out. It has fallen sentimentally with the dollar weakness driven general market, but the generals are preparing a counter attack. My guess is that the counter will fail, but before that happens, you might see this stock at 45. In order for your interpretation to be correct the market and this stock had to get going on the downside today, but both failed to develop. The big boys aren't convinced yet that the dollar is singing its Swan's Song and so they didn't panic. They will. If you look at an hourly chart the price action seems to have held and moved sideways to the down trend line and then turned down in the last hour today. Looks like it is going to drop like a rock, doesn't it? It may for nothing predicts the future. There are no closed time-like loops in this universe. But the odds are not good enough to take a short position. You tell me, right now is it easier to buy or sell? To me it is much harder to buy and so that is the path of least resistant: UP. Why would anyone buy such a number as this? Well now, that's the point why I've been trying to extract some interaction from this thread. No one is justified in going long or short based upon the data currently available at least to me, but the institutions don't buy according to strictly rational criteria. Right now Battery Marche's computers show that the stock has traded through some irrelevant moving average and so the order is sent to buy on Monday. That forces the convicted shorts to cover or become convicted. So up it goes simply because nonsense occurs, the MM has sell orders above, and the shorts see a failed H&S. If you want to survive doing what you're doing, you have to look for opportunity and opportunity has to look difficult to engage. In this case it doesn't look tough enough to call it opportunity. The way to go short this issue is to assume it is going straight up, and if it does then when it's say, at 41, you book a day limit AON at 44 7/8 for no more than 1000 shares. If you get picked up, then you have engaged the Borg. Even then it has to be traded because the price structure hasn't spent enough time failing to have any hold down side conviction. You can't come anywhere close to claiming we are on the right side of the chart. That will probably take months to develop and at higher prices. Maybe then you can get Picard back. Contrary to every so-called expert I've ever heard who claims you have to do what the market is doing, you never do that. If the market won't do what you want, then you won't play. You require that it come to you. If it won't, nothing is lost. Can we get back to doing something constructive now?