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 : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (902)	1/1/2001 2:35:36 PM
From: Susan G	Respond to of 5732

if this is true,what happened to BEAS? Although I know this stock better than any other, it still catches me off guard occasionally and bites me in the butt <g> I was not paying close attention friday afternoon and was holding 100 shares in my trading account without a stop. Yea, I know <ggg> I do have a stop on my IRA position, but it's loose. very! I have several theories on what caused it's tank into the close, take your pick : ) It was overbought and very weary after a few good up days, we know this stock goes up a few days in a row and then usually gives it all back - rarely holding up for a third day in a row. At least we should know by now <g> Seems it never consolidates or bases anymore, it's much more volatile than it used to be now that the trading volume has doubled and it's "hot". There will no real buyers as it tired out, the shorts could see the weakness and dropping money flow and took advantage of it. Also, a break of the 72 support which held from 10 am to 3 pm was a big break, TA support as well as psychological, as everyone and his brother ((except me LOL) had a stop right under 72. Classic "ernmor" trap (from T's EMA setup) at the open was a bad way to start the day, that's the first engulfing bearish candle at the open, and then it hit another trap at 3 pm. home.earthlink.net The last minute tank provided a last minute unexpected loss for 2000 for some and a few took advantage of that and sold? Could be part of it. Some poor soul bought those spikes to almost 90 in October at the top. The real reason IMO: It couldn't break the downtrend line when it got close at its high of 77 15/16 Thursday. Also if you look at this chart, Monday through Friday looks like a rising wedge - which is bearish (the bright blue lines). A rising wedge or a bear flag up to a downtrend line is pretty deadly... home.earthlink.net The downtrend line also hit right where the neckline is on the reverse head and shoulders pattern it was building. You could now call it a FAILED reverse head and shoulders pattern.... home.earthlink.net So you put a bunch of negative TA thingies going on all at once and it's sayonara! But we all know it could be proven meaningless tomorrow as this stock truly beats to its own drum. Gotta be why I love it so much LOLOL. And the good news is the price is down, it's short term oversold, offering an opportunity for us to ride it up all over again! And then down, and up...and down and up <g> My opinion stands, this is one of the gorillas of 2001 : )

To: Connor26 who wrote (902)	1/1/2001 4:08:30 PM
From: Susan G	Read Replies (1) \| Respond to of 5732

now this is an awesome idea Subject 50522