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

To: Justa Werkenstiff who wrote (8183)	9/25/2002 8:21:59 PM
From: ajtj99	Read Replies (2) \| Respond to of 30712

Justa, I'm just looking at the SOXX 60-minute, and the ADX is at about 12, about where it was at near both the August tops. That index got real overbought real quick today. At the very least, a 50% re-trace could be in order before another attempt to move it up. stockcharts.com[h,a]eaclyyay[d20020721,20020825][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j6529246,y]&listNum=1 I know you've got more experience with the SOXX, and I agree we do need to watch how it acts tomorrow. What's your target high for the SOXX on this run?

To: Justa Werkenstiff who wrote (8183)	9/25/2002 9:08:41 PM
From: orkrious	Read Replies (1) \| Respond to of 30712

The farker had a HIGH VOLUME reversal off a bullish engulfing yesterday with follow through HIGH VOLUME today and a third day, tomorrow, gives you three white soldiers. Throw in the stuff I said about the Sox on top of it and I would not short that pig now. justa, I hope it one of those rare events where you're wrong. Here's my sob story. <g> I was on jury duty all day Monday and Tues am. I got a message from a friend at 3:45 Monday that I should cover my KLAC, but I wasn't going to do it w/o looking at what was happening. then the futures looked like shit when I left the house Tuesday. My the time I was dismissed Tues am, the stock was on fire and I didn't want to chase it. Unfortunately, it is the only semi of any size left that I have (although I added some other semis back today). Fortunately, I have a hell of a profit cushion in the POS. The news in the sector is dismal and valuations still suck. Even MU last night cut its cap ex. Whenever the top of this run is reached, it will fall like a rock. Technically, it is a snorting bull. However, in this market, the most money has been made shorting the best looking charts. How many failed bullish chart patterns have we seen this year? I look forward to 1000.