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.

Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (11029)	3/1/2001 8:35:38 PM
From: Walkingshadow	Read Replies (3) \| Respond to of 13572

Greg, FWIW: I have been closely looking at various market internals the last couple of weeks, and a consistent picture now looks like it has emerged. IMHO, the market is now hammering out a short- to medium-term bottom. The upshot IMHO is that after rushing up to a peak, selling pressure is slowing rapidly and becoming exhausted. Though there is still little evidence that there is big money flow into the $COMPX at this time, still the decreasing selling pressure in effect exposes buying pressure, which looks like it will soon predominate. I'm not saying here that the big money is moving in from the sidelines or even the NYSE, just that it looks like the balance is shifting from predominant selling pressure to predominant buying pressure. And regardless of what "reasons" this may be attributed to---bad AMCC news, good IBM news, traders heartened by the fact that Las Vegas was not destroyed by a tsunami, or ____________________ [make up your own reason here; doesn't have to make any sense]----the only result possible is a general and broad-based rally. What I will be most interested in is if this buying pressure accelerates (rather than just remaining greater than diminishing selling pressure), which would be consistent with money moving in from elsewhere with momentum. If that turns out to be the case, then we are in for the fairly prolonged and strong countertrend rally I have been anticipating for some time now. JMVHO......... WS