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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (112074)	8/18/2000 2:16:11 PM
From: SMALL FRY	Respond to of 120523

C26, You always want to look at the daily chart to get your signals... but for daytrading, Sto is also fantastic at giving your entry and exit signals(5-min intervals)... it's not brain surgery; it just takes some getting used to. On BEAS I had a running conversation with Susan on it last night... here's a copy of my last post to her: You know I looked long and hard at this chart thingy of BEAS and to tell you the truth, I'm befuddled. First, bear in mind that we're not the only ones looking at the same chart... the major players constantly trading this stock may come up with a new wrinkle just to throw us off. My major concern of course is the high Sto number. That said, it may do a remake of the Feb 7 to 22 scramble that took it from around 100 to 150 (pre-split), all the while the Sto hovered above 90. On the other hand, we were in throes of a major bull market then, while now we're at an iffy market, in the middle of August (a traditionally bearish month), a few days before the FOMC meeting. Now what? I'm gonna continue to play it daily, all the while looking for a tell-tale sign that will confirm or refute my suspicions. As for the gap... that's the kicker that throws a monkey wrench in this well-oiled machine we call the chart thingy. :)) If you look at Aug 7 open(Monday), it essentially gapped up from the close on Aug 4... it took until the day before the earnings to close that gap(from 90+ %K)... and the very next day it gapped 8+ on good earnings and following mass announcements (silver bullets). My contention is that it will do a graveyard doji or an NRB tomorrow to signal a mini-correction until the overbought pressure is eased to a workable level, (we don't know where that's gonna be so we'll look for reversal bars) before it breaks out once more. Bear in mind that our ADX(14,14) is still decidely on a slight downtrend here... and we tested the Fibonacci 61.8% retracement line (resistance) at 58 1/2 and bounced right back down. So to conclude: <Gulp> I hope I'm right, but if I'm wrong, then I played it safely. <Gulp again> And, I look a little foolish... and my friends will never talk to me again. Wolf! Wolf! <VBG> But it's coming down to relieve that overbought condition, the question is when? And if it does continue the price uptrend despite the conditions against it, what are the catalysts that can propel it... because there has to be one for it to go on. Do you agree? <sigh>

To: Connor26 who wrote (112074)	8/18/2000 2:57:56 PM
From: SMALL FRY	Read Replies (4) \| Respond to of 120523

I did not answer your question, did I? My STO setting is QChart slow default at 14(1),3. Currently, the %K,%D readings are 78+ and 90+ respectively on the daily interval. It looks like we found another minor support here at the tail of the Wednesday's gap open candlestick. This is make it or break it as far as I'm concerned... I'm watching it very carefully here since it just gave a sell signal, piercing the 80% line on the way down... BUT, the 5-min interval tells me that intraday we're oversold and heading up; the level II readings are all against it from what I can see. If it fizzles intraday... it's a goner IMO. SF PS: Bear in mind, I'm giving you indicators for swing trading... for longer termers and positions, one must always take the MACD as lead dog with the rest of indicators or oscillators as follow on confirming devices. Off to the woods I go! La-la-la-la-la. :))