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 : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (67653)	1/25/2001 7:38:31 PM
From: KymarFye	Read Replies (2) \| Respond to of 99985

EMLX already started today - I'm hapy to say, as I was short on it. Probably should have held overnight, but was happy with the quick money (did OK on AKAM and EBAY, too, though just missed entry on SCMR and SEBL). Was thinking of staying short on ARTG overnight, but looks like they got some good news or something... so it all evens out, sometimes... then sometimes it doesn't... Thought I did quite well, until I looked up at some of the real casualties. Anyway, you were right the other night, Bobby, just your timing was off a couple of days. Things were moving too fast. Nas COMP completed a slightly imperfect dark cloud cover pattern today. I think it's imperfect because the uptrend had already begun to stall at the end of last week: Wouldn't read it as calling for as powerful a fall as if it came right at the peak - though candlesticks are blunt instruments... The SRL's are another story: Like I said a week or so ago, how the 2840s and resistance above it at 2860 (critical weekly low from Nov) were handled would describe the short-term prospects for the rally. Looks now like the Nasdaq failed four times almost exactly at those numbers - the charts are as neat as a jigsaw puzzle. Nas futures and After Hours have been completely contrary for the last couple of weeks, but maybe that means it's about time they got things right. Speculating on a gap below 2725, to the 50-day MA which is also closely intersecting the post-Labor Day big downtrendline, should be at around 2700 tomorrow. Failure there means a check of 2660, and next support at the 2618 area (top of the first Fed rally, among other things, also theoretical neckline of theoretical h&s theoretical bottom). If the aforementioned Easing Day (1/03) high doesn't hold, then the Eichler target of 2500 looks doable, maybe 2525 (if man is still alive). But the Fed's just about ready. Could help put a floor under the drop, set up another dramatic snapback. Or it could all just be random. I like the name that academics have for people who trade the short-term supposedly meaningless movements: "Noise Traders."