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 : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: E. Davies who wrote (269)	5/5/2001 7:08:47 PM
From: GraceZ	Respond to of 6873

Take a look at your BEAS chart and remove Friday's trading and it looks pretty much identical to ITWO or dozens of other stocks out there. Nope. If you look at rate cut day, 15331, you can see that right after that turquoise rose sharply and then declined, so did red and the net tick. The institutions kept buying even as the price went down with those indicators. But even with very positive money flow the price didn't go much of any where after red, turquoise and pink cut there up trends. The last day is right where the green takes the plunge. Notice that the public is still buying and it drags the other indicators back up.....but the damage is done. If it rises now it'll be on short covering. When the tick and the red indicator rise like that in a selling regime, it means that buyers have to pay up or shorts have to pay to get out. One could wait for the short covering to finish and start up a new position at that time. ITWO OTOH just broke through a level that it had visited three times previously and it did it on huge volume with positive money flow. The resulting short covering on stop losses only added to the rise on Friday. The low of the day was right around the open. If you short stocks that have started to fall (like BEAS) you take the risk of hitting a whiplash rally back up Absolutely and that is why you wait for the stock to rally back before you take a short position. . I'm sure he'll be happy to cover ITWO in the vicinity of 20-21, which is more than feasable. Like I said, if all you want is a scalp it'll work because it'll retest that level. If the whole market drops as in a replay of January it would revisit 15. I just thought there are easier pickins than this one. I reserve the right to be wrong, my charts only tell you what is happening and nothing predicts what will happen, nothing.