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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (86219)	11/20/2003 4:31:28 PM
From: SwampDogg	Read Replies (1) \| Respond to of 209892

Worth looking at again. Would tie in with an extended wave 3 here. sandspring.com Looking back to the Spring, the thread was focusing a lot on maximum pain at expiration. One of the good indicators that we were in for a rally (of which I totally ignored) was that we rallied right through with no real regard for the amount of calls that were in the money. If we tank into tomorrow it may be an indication that we are seeing the other side of this.

To: Shack who wrote (86219)	11/20/2003 4:39:36 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

A few things, Shack. First... iii of 3 down has been a myth for a long time. Probably will be here, too <g> Second... I know that for weeks know, zeev had expected a decline with the low being this week (including Friday) most likely contained by 1842. Later, he had raised that to the likely low being 1865/1880. My guess is that he's simply playing his plan. I am surprised he'd think this multi bottom on the Compx would hold, but he also has a wide range of stocks, not all of which are gonna be tanking. And if we stop at 1865 in a wee slide in the morning (and hey, that could easily happen, as could a gap up!), then he'll do fine. Personally, I think the rally from whatever low we do peg will come back over this level, so he's probably okay in that respect too. I don't like fading him either, so I'm surprised to see that %. But as Zeev would say... he's no virgin to being wrong, either. But just like we've got a read, he does too. And since he's been right for the last few weeks, he'd be silly not to play it if the market is doing what he expected it to do. Personally, these gyrations of the past few days have me confused enough that I need to take a new look at everything. A few stocks like BRCM look baaad. And LEH, which I always like to watch, looks like it's got at least a few more points down right ahead... and like LXK yesterday, it COULD be done with a B wave. the freep

To: Shack who wrote (86219)	11/20/2003 4:50:27 PM
From: The Freep	Respond to of 209892

Or maybe the selloff was just... 3:32 PM ET: Late-session slide blamed on mutual fund selling to meet recent redemptions : And it'll be gone tomorrow. the freep

To: Shack who wrote (86219)	11/20/2003 6:31:42 PM
From: SwampDogg	Respond to of 209892

Here is an interesting one to watch. It has done the Inverse H&S measured move and is banging against old R. Nice and extended.... stockcharts.com[m,a]dacayyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G

To: Shack who wrote (86219)	11/20/2003 7:14:31 PM
From: ajtj99	Read Replies (1) \| Respond to of 209892

I know you are not a candle man, Shack, but today's candle on the NDX is usually a prelude to a low, if not one that immediately preceeds a low. The 30-minute NDX had a 3-black crow pattern that targeted 1361, but it may have been met by the 1363 low at the end of the day. Either way, we've got a triple bottom, and folks know I'm not a proponent of those. 60-minute NDX: stockcharts.com[h,a]eaclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][J6471081,Y]&pref=G Daily NDX: stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14][J6471081,Y]&pref=G Lower BB on the NDX daily is now at 1358. On the COMP it's 1864. On the SPX it's 1029. stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G Notice how the lows are almost always made by an AM spike down on the SPX. Same with the Dow. Lower BB at 9581 on the daily tomorrow. That's also the area of the 13-EMA on the weekly chart: stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G Note the Dow tagged the 13-EMA on the daily today at 9726 and reversed.