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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (3514)	1/4/2005 9:16:49 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Hi Reid, Except for QQQQ short, the charts I posted didn't work out very well today (not much did). I didn't expect this much downside momentum. But of those I posted, look at TGEN: 139.142.147.218 Today's candle looks like one of your patented short covering candles, but this cannot be the case (no shorts). That makes today's candle bearish. The intraday chart suggests a bit more downside going into tomorrow. But the volume surge today suggests that this downside will be short lived, and TGEN's drop will be stopped in its tracks early in tomorrow's session, at which time a stochastic reversal appears likely: Intraday: 139.142.147.22 So I probably got in too early, but I'm long TGEN. There is one thing I don't like about TGEN: there are only 14,000 shares short. That is practically nothing, and increases the risk of a long position. On the other hand, it makes TGEN a nice candidate for a long/short trade: go short when it is overbought and the intraday and volume suggests reversal. The risk in a short position in an uptrending stock is considerably less since there is no chance of a short squeeze working against you. T