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.

Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (34198)	10/27/2000 9:52:42 AM
From: Trading Machine	Respond to of 42787

Don, RE: Island Reversal, my understanding of the literature is that it is typically a one or two day thingy. Having said that I don't know why it couldn't be construed over several days. I have played SGP and a couple of other stocks with perfect island reversals and it is really neat to speculate that one is forming and then buy some options against the grain so to speak. gg As far as Compx goes, I have it in a downward sloping trading range with the bottom next week at 2450 and the top at 3600. The 38% Fib retracement from this last downward move is at 3494. There is a "left over" uptrend line at the 3000 level from a trading range/channel starting in Jan 1999 with a break out in November 1999. Strangely enough we reach the intersection of the downward sloping channel and the old upward sloping channel around November 10! I hate coincidences. gg It is not without reason that in some extreme circumstances (news driven) that we could break 3000 to the downside. One must be careful and be fleet of foot to the downside in this market IMHO because as you saw yesterday we pierced that line to the downside. My own criteria is that I will not reenter the market until the S&P breaks the down trend line which it has steadfastly refused to do since the slide started back on September 1. That magic number is 1392 for today. We could close above it but I doubt it. Trader Berney keeps smacking my hands every time I try to type a buy order as long as we are below this line. This just my view of the world and it will undoubtably change once I sober up! gg CU Paul Kellam