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 : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Suresh who wrote (35041)	11/7/2001 11:53:23 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68145

Hi Suresh, >>even though long term bullish, I don't like what I am >>seeing. This is not a solid base to build a strong rally >>next year. I don't like it either, but I am not willing to fight the Fed and the charts quite just yet. We all know some kind of re-trace is coming, but the amount of liquidity in the system right now is frightening.

To: Suresh who wrote (35041)	11/7/2001 3:06:57 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68145

Interesting series of counter points. I have not made up my mind yet. *********************** [madtrader] Wed Nov 7, 10:46am PST QCOM The trading in QCOM is a prime example of a bull market action. There, I said it. We are in a bull market (I know, technically we are still in a bear). I have been trying to find ways to describe this market. And I come to the realization that if feels like a bull market, trades like a bull market, and has all the animal spirit of a bull market, oh my! Then it is a bull market. For traders out there, the added bonus is that the leaders this time around are also the leaders in the last bull market. Tech stocks! none. [madtrader] Wed Nov 7, 10:21am PST BBH $BTK.X This is another one of those instances that we are looking at the same chart and coming to different conclusions. Rumordude cited the fact BTK is bumping against the top of the Bollinger band as his reason for caution. I look at it as a reason to be bullish. Last week, when both BBH and BTK pierced the upper Bollinger band, it was a classic example of forecasting further bullish move to come. As John Bollinger himself suggested that "when price move outside the band, a continuation of the trend is implied". Now that BBH and BTK has broken above the Oct 26th high with even higher OBV reading to support it. I don't think it is reason to be bearish. This is actually bullish. none. [madtrader] Wed Nov 7, 10:08am PST QQQ I am praying for a correction, a dip, a drop of say more than just a few hours. I said a few weeks ago that due the massive liquidity, people can buy dips again, and if they are long the market and wrong short term, the market will bail them out. Much like 1999. Now it is happening right in front of my eyes, I don't want this to be just a panic buying like early 2000. Otherwise, we are just suckering in another group of people who can least afford it. With the way the market is climbing the wall of worries, it is perhaps trying to tell us that things will indeed get better. It is too easy to make a compelling arguement against the rally, with the obvious and terrible fundemental back drop. That was my feeling in October of 1998 as well. It only turned out that the market was correct in forecasting a robust run. With the yield curve positively slopped, and the long portion still dropping, perhaps the market is telling us that the future is not only going to get better, but much much better than anyone expects. long QQQ