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 : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (7549)	5/17/2001 6:57:04 AM
From: donald sew	Read Replies (1) \| Respond to of 52237

MAY 17 INDEX UPDATE ------------------------- Short-term technical readings: DOW - CLASS 2 SELL SPX - overbought region OEX - overbought region NAZ - upper midrange/borderline overbought NDX - upper midrange/borderline overbought VIX - oversold region Per my short-term technicals the overall market is now in the overbought region and will be getting more CLASS SELL signals in 1-2 days if the market continues up. A CLASS 1 SELL signal could ring by tomorrow for the NAZ/NDX depending if/how strong it rallies. We are approaching a short-term top quickly, in light of yesterday having midrange/oversold readings. As mentioned previously, prior to yesterday the VIX was out of sync with the major indices, but with the breakdown in the VIX yesterday, it is now back in line. Prior to yesterday the VIX had a DESCENDING TRIANGLE hinting that it should break to the downside, and yesterday it did break to the downside significantly producing a lower low which implies that the VIX is still in a downtrend. Since the VIX moves inversely to the major indices, that is a bullish hint. Depending on where I start the cycle count, I have a 34 DAY cycle turn date either 4 days ago or 4 days from now on MAY 23. Im more inclined to say that it is a cycle high. Not to imply that the forthcoming pullback will be strong, but cycle turns commonly do not produce weak moves. Im more inclined to say that the forthcoming pullback should not be small, but should also be a buying opportunitity. The XAU(gold index) has broken out to the upside. On the weekly chart, an INVERTED HEAD & SHOULDER has formed and the TARGET MEASUREMENT is around 68. I dont totally rely on the H&S pattern, since I have seen many fail/not reach the measurement target; nevertheless am mentioning it. My weekly and short-term technicals on the XAU are now in the CLASS SELL territory, which is somewhat lining up with the INVERTED H&S pattern

To: Terry Whitman who wrote (7549)	5/17/2001 11:03:29 AM
From: isopatch	Read Replies (1) \| Respond to of 52237

Hi Terry. Exactly. Important to let profits run when you identify tha an Intermediate Term hold period is in the cards. It's been my preferred time window to work in for many years. And it been awhile! Six weeks ago was the 1st time since last Sept that I took off my San Diego Chicken costume and put it in the closet.(BG) OT/Don't think I'll be traveling this wknd, Terry. Top drawer oriental rug dealer, I've know for yrs (stand up guy I've bot from sev times in the past) has gotten himself into a nasty ST cash squeeze. No hype, no advertising, no store wide clearance. Strictly carriage house trade clientele. But with the Bear Mkt those customers have gotten few and far between for many top dealers. After some low key but tough dickering, last night, took home 2 superb collector pieces that I've had my eye on for over a year! But, till now(g) were WAY out of reach. Been a knowledgable though modest collector for 25 yrs. But, no joke. It's the deal of a lifetime. And the timing for the buy couldn't be better with a new inflation cycle just getting started. My guess is pice appreciation in top quality oriental will kick in, for real, by late in this year. Perhaps sooner... For the real hard core rug nuts who may be reading this? Talkin' 2 real Caucasian Shirvans. Both pre-revolutionary. One circa 1960, has 200 knots/sq inch. 10 on a scale of 10. Iso one very happy camper. Best Isopatch