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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (22135)	8/4/1999 9:20:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

SR, funny you should mention LRCX, i was just looking at the chart! it is quite possible that the high volume blow-off move that took it outside it's upper 20-b-band was an exhaustion move, at least that is what i currently think. i am foolhardy enough to short something like that outright, especially since the last move up also looks suspiciously like a terminal fifth wave to me. however, one should normally wait for confirmation...there's also an interesting bearish RSI divergence to be seen and the (7,14,28)ultimate oscillator also diverges bearishly. note that the stock is a very long way from it's 200-dma, so there's quite a ways to fall once it turns. i just put that baby on the top of my list. regards, hb