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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (27200)	6/28/2000 4:23:00 AM
From: Johnny Canuck	Respond to of 67997

Hi Tim, On QLGC, technically it looks overbought to me and perhaps ready to pull back. If it can stay above 67 the current uptrend should continue. On the 60 minute chart, it looks like buyers equaled sellers the last few days with selling gaining a slight edge. siliconinvestor.com It looks like a lot of people bought in the upper 60's and again in the upper 70's, so I would look for some profit taking as people are now even at this level. cnetinvestor.com On the daily charts there is some serious resistance in the 72-73 area, so a break above that on volume would signal a break out to the next level. Similarly it is overbought based on the Bollinger Bands: 207.61.23.98 Block volume from I-watch is neutral. No super sell or buys. I will have to watch it for a few days without the Fed to see what the normal trading is like. Some stocks trade almost no block volume on that service like RFMD. Looking at the option chain somewhere in the mid-60's will take out the most call/put holders. Though this won't be anything but a short term influence depending on when earnings are: bigcharts.com You need to click on the options table. Right now I see this having a hard time getting above the upper 60's /lower 70;s for any extended period of time without some news. I would take profits on a break of 67 and wait to re-enter if it finds support in the lower 60's. On IFMX, I committed the same sin you did. I held through earnings and exited what was nearly a double at break even. On the plus, I jettison the position right away as there were better places to put my money and did not wait the position go into a losing position. I have never liked software companies as long term holds. There are far too few barriers to entry. Harry