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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (11297)	2/3/2001 4:21:40 PM
From: Nazbuster	Read Replies (1) \| Respond to of 12039

Chris, I understand. ORCL is at a max risk point. That was the point, wasn't it? TA is not predictive. Picking the exact bottom is not easy. Considering the entire market was selling Friday, I give some lattitude to the penetration of the bottom channel line. As I said in the amended post, the weekly chart tends to agree with you and a lower entry price might be advisable. Also confirming this is the fact the oscillators have not yet turned up, something I'd want to see to enter at all. (I'd want to see MACD and stoch. turn up through zero/20 first...) So we actually somewhat agree, but I still think the stock qualifies as a lower risk entry in this range if one thinks the macro conditions warrant going long ORCL is justified at all.