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 : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (10789)	2/1/2002 4:33:57 PM
From: TWICK	Respond to of 26752

BEAS failed to hold support today @ $18.00. siliconinvestor.com Still sticking with my $16.00. Actually I'll revise it to $15.00 - $16.00 range, and if it's weak there, say "Bye Bye" to it siliconinvestor.com and look for the $9.00 - $12.00 range for a nibble. Just my thoughts. I could be wrong. Twick

To: Connor26 who wrote (10789)	2/2/2002 10:45:10 AM
From: Susan G	Read Replies (5) \| Respond to of 26752

372,800 buy at 17.47 on BEAS On the other side of that trade, was someone dumping 372,800 shares! Over 180 blocks (2 to 3x the average) on over 19 million shares traded yesterday, with the 65 day average under 14 million and it lost 15% of its value this week. Looks like that gap at 17.15 will be filled Monday. That was some major institutional dumping going on today, and I was surprised to come home and see an alert triggered that it had broken into that breakaway gap it made the day it was added to the recommended list at Goldman Sachs. But that's not much of a surprise, It's almost identical to the move BRCD did when it too was added to their rec list the first week of December. These are two that come to mind immediately, but it has happened to several others this month. After a nice run up while they've loaded the boat, they then put it on there rec list, squeeze the shorts out, they run up like mad for 4 or 5 days and then croak. Bargain hunters come in and shorts cover on the dip, it runs up to make another rounded double top where there is major distribution again and back down it goes. The perfect pump and dump, and GS screws ALL the little guys they "recommended" putting in their portfolio. But I must say they are covering their ass because this comment was included in their adding of BRCD: BRCD: Upgrading to Recommended List Buy from a Market Performer - What this suggests is that we would be buyers at current levels or lower and would be trimming in the $40 and higher range. But their upgrade occurred when the stock was 33. It reached 40 within a week. So WHY put it on the rec list when it's only worthy for a week? Believe me they KNOW how that stock moves, and how many shorts are still trapped in it from much lower levels. So why? To dump the TON of shares they accumulated of course. I'm sure most of the clients that were sucked in were not told of this limit in price appreciation <G> The BRCD and BEAS charts have the same exact pattern, but BEAS was added later so its chart has not retreated back in its base yet as BRCD has. home.earthlink.net home.earthlink.net Both charts did breakaway gaps on huge volume, very clear double tops, reversals that filled all the gaps and then right back to the price at the time of the upgrade. They now need to base as BRCD is doing. BRCD had the 200 MA to save it from its dive, but BEAS has nothing but air, the 200 MA is far, far above. So the only place it can go to find support is that base from 15 to 16 1/2 like Twick pointed out. Unless there's news that stops the plunge and causes shorts to cover. I was hoping to buy some at the gap support at 17.15, but the way it's looking now, I'd sure want to see that gap hold and reverse first or it may slice right through it. 90% of all gaps fill, maybe more. They are like magnets! Also, if goes below that gap support of 17.15, it will also break the uptrend line form the September lows. That occurrence has meant a big breakdown for any stocks that have done it recently. Be careful going long here without a tight stop. The Nasdaq has yet to decide whether it is going to break out or break down. There are bearish patterns and obvious distribution days lately, but there is also a bullish descending wedge that we are on the verge of breaking out of soon. Nothing we can do but wait and see but just be really careful going long! There is a presentation on the 5th by the BEA CEO, it might be worth a pop but with the chart totally breaking down, any pop may be used for more dumping by the big holders. And you'll have to get in and out fast. I think the chart is saying there is negative news coming. susan@reallysickofseeingwallstreetripofflittleguys