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 : AWARE -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (475)	8/1/2000 4:12:57 PM
From: max power	Read Replies (1) \| Respond to of 2404

<<Some T/A...it's oversold!>> does that mean I should holster my .45 and take a step back?? max

To: Scrapps who wrote (475)	8/1/2000 5:37:46 PM
From: Peace	Respond to of 2404

Sure we are very oversold here. RSI, momentum, %R etc are all in oversold territory. So a bounce is in the order. But it is hard to say at this point whether we have seen the bottom of this correction. Like I said in the wave update the max I am expecting for this correction is around 32. If you look at the price action since we peaked on 7/17, we sold off 20 points on very moderate volume and then we sell off 6 points (last 2 days) on twice the daily volume. This is typical action when approaching bottoms as weak hands throw in the towel. I am not saying that we cant sell off some more but we are very near a bottom.