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: Chris who wrote (39717)	1/1/2001 2:57:32 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

Happy new Year all!!! Heard an interesting snippet as I watched the ball fall tonight from Times square, that all started 96 years ago as a room party. Hope a few of them are alive now to see what that has grown to become. Chris, regarding the BIX, I looked at my weekly and I have a short term over bought signal on it and I see a grave stone doji that formed last week. Personally, I wouldn't touch it yet. I then went to my daily and I would need to see it clear resistance of 670 first. Even then, I have a descending fork which has held up until the break out I think you are reffering to. A fork extension tine placed on it would still allow a run up to around 690 or so dependent on time. If I am right and it pulls back from here, you might want to play the bounce off of the 580 area as it tests prior resistance ( now support) for that run up to retest the new resistance around 670. 100 points is a good trade. <ggg> My main FA concern is all the bad debt floating around which is why I am bearish on financials in a FA sense. Who knows, maybe they really are hedged and insured to all that debt and really aren't exposed as I think they are but I don't want to bet too much on it. EDIT - Just saw you wanted BKX and not BIX. My BKX chart is not as clear as my BIX chart so I would trade based on what I said regarding the BIX myself since it is more clear. On my daily BKX chart though, I did have a resistance line usingthe highs of July, November and September that held. Kind of weird but it worked. I don't have as strong of signals on the BKX as I do on the BIX but it also has the gravestone doji which isn't good. On the bullish side, there is the chance that you are forming one heck of a huge inverted H&S from last may to now. Too much Champagne, I better quit. Good Luck, Lee