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 : Meade Instruments Corp MEAD -- Ignore unavailable to you. Want to Upgrade?

To: Islander who wrote (129)	3/30/2000 1:06:00 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 175

I can't say I disagree with you, Islander. I know nothing about Elliot Wave theory, but would like to find out. Got any good info sources on this? Despite what I wrote before, I'm closely watching this one, and on the first sign of technical weakness, I'm out. I suspect a reversal would come rather suddenly, if it fails to penetrate overhead. I could easily be wrong about this; it could just consolidate for a bit, then retest. Actually, that's what the chart suggests to me, but nevertheless I'm getting nervous about this one. So far, I must admit I see no technical signs of weakness, although today's candle thus far is not too encouraging---the stock is testing 70 and now looking like it might not be successful, since the volume has not picked up. If volume picks up, it should be successful, and if not, then it probably won't, IMHO. I'm not concerned about the P/E at this point (45 according to ASK Research), since even though it's doubled, it's still reasonable by today's tech standards. Don't forget, the stock was way undervalued pre-TeraBeam. Either way, this one will be interesting to see how it turns out. WS

To: Islander who wrote (129)	3/30/2000 4:22:00 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 175

Islander, Any further thoughts here? MEAD finished strong----from 66 to 78.50 in about the last 45 minutes. This close makes it a technical breakout and new 52 week high, but the volume was not as strong as I would have liked. Based on the finish, looks like MEAD could gap up tomorrow, but to confirm the breakout, I'd really like to see a close above 70 tomorrow also. Technicals still show no sell signals at all----actually, nothing but buy signals, and today's candle looks very bullish. Yesterday it opened on the 10 day ema after correcting back to it for 4 sessions, bounced off of it and continued off of it with today's candle. So now it looks like it will ramp up off the 10 day ema for another session or two at least. Almost sold today.....glad I didn't! Still, I'd feel better if the volume was stronger. Cheers, Walkingshadow