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 : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: The Freep who wrote (38241)	3/6/2002 5:34:37 PM
From: ajtj99	Respond to of 99280

Freep, I'm thinking in terms of previous levels of support/resistance as the targets. When we were on the channeling thread, we used to talk about boxes, and I believe we have to think inside the box for our moves. The previous box of 1696-1805 was taken out, leaving us with a box from 1805-1880. Now that 1880 got taken out, we may move to the 1880-1960 box. Now that box may extend back to 1850 on a re-trace, but I'm not so sure a moving average will make us turn back more than intra-day or possibly a day or so. I have no way of knowing for sure. The 200-day SMA did turn us back in November, but I believe it was in a more difficult position (1960) than it is right now. At that time we had 1934-1941 as strong resistance, and a 200-day SMA and a falling resistance line between that level and 2000. As you recall, we got turned back once from the 200-day SMA, but we smashed through it the 2nd time after we had completed the re-trace. If we do move up to the 1880-1960 box, we may have a re-trace to 1840-1860 COMP after we hit the top of the range, but I think it would be a quick drop that reverses quickly, BWDIK.