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 : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (81353)	8/11/2001 2:04:16 PM
From: 10K a day	Read Replies (1) \| Respond to of 99985

oversold is like buttermilk. it just sits there in the refrigerator until somebody throws it out...

To: James Strauss who wrote (81353)	8/11/2001 3:09:48 PM
From: KymarFye	Read Replies (1) \| Respond to of 99985

Actually, to me your chart suggests that the QQQs (like the Nasdaq, NDX, and leading sector indices) are still short of being oversold, much less "very" so - your %R and Stochastics, ferinstance, haven't even penetrated the lower line. Of course, it's not at all impossible to get a bounce from "not very oversold" levels - usually a meek one unless prompted by some powerful exogenous event - just as it's not unusual for oscillators to get "pinned" at extreme levels in strongly trending markets. I think a plunge and a flush might do wonders for unclogging the drain here, but months of circling it have made me hesitant about expecting wonders of any type. We also still have some potentially interesting reports to get through next week: AMAT, DELL, HWP, BEAS, BRCD.