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 : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (3558)	7/16/2002 10:03:02 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 30712

Jeff: Re: "one of these days the longs holding are going be slaughtered.....so says the retrace....." The set up is there right now. The Nasty has lured the longs in with its gentle basing period. "Come buy me," the Nasty said. "I am stronger and will due you no further harm." The Nasty continued: "I will give you a rally. The bottom is at 1375, well maybe 1336 or, better yet, 1326 or maybe 1315 as it was a very good year. Forget about my past misdeeds. I am here for you. Look at that terrible DOW and SPX. You want no part of that action. Come here and I will shield you from that carnage and lift you to 1565 or wherever you say. It is summer, you know, and I must rally."

To: Jeff who wrote (3558)	7/16/2002 10:32:01 PM
From: ajtj99	Read Replies (1) \| Respond to of 30712

Looking at charts tonight, other than the SOXX, the NDX and COMP seem to be ready to drop again, but maybe not to new lows until after expiration. There are enough things out there to make you think twice about being short, but in the end its the only decent play right now. Full moon in a week also <G>. Those are always good for turns, lows, and highs. I did see a candle pattern on the SOXX chart back earlier this year that mirrored yesterday's and today's. It had a hammer the next day, a spinning top, and an evening star doji. However, that range had lots of Ma's and EMA's, and it was near the upper BB. I doubt we get that kind of gentleness this time. I'm looking either for a gap down that keeps going, or a drop to the 50% re-trace at COMP 1360, and a rise to around 1383 that I can re-enter. I'm now shorting anything under 1360 COMP or 1000 NDX and if that doesn't happen, shorting anything over COMP 1383 and NDX 1022.