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 : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: steve susko who wrote (33875)	11/24/2003 11:56:43 PM
From: nspolar	Read Replies (1) \| Respond to of 36161

steve, it is not so much the level for me. I am watching the McClellan's and some trading oscillators in Dpoint. This up here was expected, it looks very corrective to me and already near a peak. So it is the patterns of the ocscillators that will kick me out. They are in a descending channel pattern, and this up already has them knocking near their upper downtrend line. If the patterns hold Nasty is going on down and will break 1880 with ease. Right now I think they hold. Mo Mo indicators also indicate a possible ST top, here or very soon. You could ask why did I stay in then? Just the way I do things. I thought this move would be quick. One of the disadvantages of USPIX is you only get a one day shot. I had 4 days last week and was out of pocket all but one. So I decided to stay. For those not short I think today was a good day to go short. I still think the odds with the shorties. There may be one more day to do. A minor possibility this holds until after turkey day, but I presently doubt it. Too early to get a good count - a prime possibility we had a i, are near the top of a ii, and ready to slide on down via a iii, which will break the next level of support. As an example: ttrader.com\'s%20charts&id=427&d=2 It would be expected that these breadth oscillators just about kiss the zero line and head down. Some slightly longer term ones are still headed down, which is a really good sign (for shorties). The PC ratio is very low as well. If you are a day trader it would appear to me to be a good setup here for a short play, depending on how the next few hours go. I've been following ZH a little again - believe he has nasty in a tight range until near end of year, then a blast up. My primary would be more down here, with ZH's plan the most next likely possibility. If things stay in a tight range here for a couple of weeks, I would agree, nasty most likely goes up.