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 : Jimbo's Playhouse/CPQ -- Ignore unavailable to you. Want to Upgrade?

To: Mao II who wrote (6878)	6/21/2000 7:08:00 PM
From: Night Writer	Respond to of 12662

M2, I'm not a Fibo in the classic sense. I do use 3,9,18 day moving averages confirmed by Moving Average Convergence Divergence, and Stochastics for confirmation. The 3,9, and 18 numbers are Fibo numbers. Fibo numbers are also used in MACD and Stochastics. That TA shows the COMPX is currently in an uptrend after giving a buy signal on June 1. (This brand of TA will give me a sell signal, but it doesn't forecast the future.) If I remember correctly, the best uptrend lines are around 45 degrees according to conventional wisdom. The current COMPX uptrend line is much steeper then that and could be subject to a rapid correction. The DOW gave a sell signal on June 16 and appears to be heading back to the 10,350-10,360 support area. The DOW has a down trend line furnishing resistance on the up side starting April 11. When it hits the support level (It's close now.)three waves will have been completed to form a triangle. The lines of the triangle are the support line on the bottom and the down trend line on the top. At the support area, the DOW should break up or down to form a new trend line. Which way it goes is beyond me.<G> It may stay relatively flat in honor of AG. All my TA is amateur and furnished for entertainment purposes only. It's a good technic for timing trades. You don't get the bottom or top, but you can grab the middle of a good move up. NW