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 : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (3935)	2/6/2001 7:27:44 PM
From: Jenna	Respond to of 6445

AMCC was slaughtered today. It has now broken through the support of the lower Bollinger band and it looks like its not done correcting. Looking for more downside here to 53 or thereabouts. If it recovers we have two choices. We have to wait for AMCC to make its way bay into support. marketgems.com a) We just wait for AMCC to take out the high established by 10:00 or at a later time period b) or we wait until AMCC takes out 55 1/2, than 57 3/8 (Tuesday's high which is minor support)Once it moves to 59 1/2, we are our way to possible recovery. It must take out the gap down as well, or it will become short bait at every rally, like its peers. The next move then will be to 62 1/2 above the gap down.. which is also the 38.2% retracement from the the 52 week low of of 32 3/4 and so until we are well above support. 67 is the 61.8% retracement from the 4 week high (88 1/4) Until we do this AMCC will just be a short at every rally.