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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: At_The_Ask who wrote (79153)	8/15/2003 12:10:47 AM
From: The Freep	Read Replies (2) \| Respond to of 209892

I've been looking at CSCO, too, ATA. The new highs have been made on declining ADX with at least minor divergences on other "silly" indicators (MACD, RSI, and so on). It's an interesting short, too, cuz it's pinned below the 50 dma with is also a gap area. Figure if it goes up and over, it's good to go upper and overer. It's too simple to say that if CSCO rocks, the naz will too, but I don't look at that chart and think "hey... good long!" That said, there's a bunch of puts in Sept at 17.5 (calls at 20 galore). If did finish up at that last high, then this consolidation has to be a 2, right? So the 3 is coming sooner rather than later. Two other random observations: lots of charts like that CSCO one with rising tops that might be EDs. JJ posted RGS today. What about DLTR in retail. AGP in financials. I guess they could be some kind of running 4s in some cases, but if they all break downward, it'd be interesting. And again, MO is the straightest consolidation here. I don't see how to count it as bullish, but there are two gaps above to be filled. And is that a tiny gap down below 32.5? 50 dma turning down. I know when I asked MC about MO last month, he dissuaded me from shorting it. I've never forgiven him <g>. I look at it now and think.... hmmmm. Anyone got a take? the freep