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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (7628)	7/19/2001 9:39:55 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

Allan -- I was talking with a very wise trader friend of mine who was speaking of the "cult of Microsoft" and implying that a down open would likely get bought. . . at least for a little bit. After all, MSFT didn't "pro formally" lower their full year by much. But as to a rally from here, the chip weakness concerns me even more than Microsoft. We'll have to see how they do in the a.m. They've got a long way to go to take out that SOXX low. I, for one, am still confused. But if this Microsoft/IBM warning combo doesn't tank the market. . . if the horrible fundie news about chips and cap-ex doesn't. . . well, I start to see your "C" possibility much more strongly. Some small shock (or the inevitable MSFT filling the gap) takes us down to finish the "e" and then we go 6 weeks without any warnings and with building optimism about another rate cut and Q3 earnings marking a bottom (which they might, but will they mark a bottom in valuations? and will Q4 be an increase or a barely flat one, thus causing that guidance to be lowered anyway). It makes the mind reel. I agree with JRI that this SHOULD kill MSFT. . . but as davidd said, logic doesn't necessarily apply. OK, I've rambled enough and this time I really am gone for the night. Sorry I keep doing these "ramble while putting thoughts together posts" but they help me, so you can all just skim them instead of reading everyone of my words (even though every word I write is GOLD!). the freep

To: AllansAlias who wrote (7628)	7/19/2001 9:51:30 PM
From: Shack	Read Replies (3) \| Respond to of 209892

Interesting that RUMX was rescued from falling out of its wedge at the end of day today. If you buy that non-tech had a 5 wave impulse down off the May 22 highs (and I think it counts nicely), then the rally since the the 11th is corrective and we launched the 'c' up late yesterday. That 'c' looks incomplete and would fit with a cycle high hitting on a Heinz turn date either tomorrow or Monday (I think he had Saturday which likely won't happen-g). JRI, you may be right about getting a high on that turn rather than a low. NYA 612 would have to hold for that count to validate. As for tech, I guess it would be bought as well. And my preferred count is still in play there. I thought we had already launched into the 'c' of 'y' but I still think a wave is missing form the 'b' of 'y'. dshacket.homestead.com

To: AllansAlias who wrote (7628)	7/19/2001 10:48:47 PM
From: morokko65	Read Replies (1) \| Respond to of 209892

AllansAlias.... Does PVN look like an opportunity to go long if it touches $40, or does it look like $30 is in the cards? Small Gap on the dailies at around $43. PRGN looks like it has a gap fill brewing in the 17-18 range (very volatile, this one..) TIA