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 : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (4648)	2/5/2005 8:21:59 PM
From: Walkingshadow	Respond to of 8752

Hi Reid, Here's another setting up as a very nice short, and maybe indicative what's in store for the indexes: SNDA: 139.142.147.218 During December and early January, SNDA had been trying to consolidate on new support in a trading range above $39, but even then increasing weakness can be seen in the bearish divergence demonstrated by the dwindling stochastics and MACD all during December. The bottom finally dropped out on January 12, when support was broken decisively, and SNDA ended the session down over 9% on five times normal volume and formed a very bearish candle in the process. SNDA went on to drop over 21% over the next 7 sessions to find a short-term bottom just above the 200 ema. After that, SNDA rallied back up into resistance from the descending 40 ema, but was looking increasingly weak. Then on Friday, a bullish day when all the indices scored some of their biggest gains of the year, SNDA foolishly attempted to swim into the tsunami of resistance exerted by a powerful volume-heavy bearish "Power Candle" overhead (sound familiar?) that had formed on the initial breakdown on January 12. It was not a pretty sight... probably something like Vendit vs. the 95-Pound Twin Alarm Clocks every morning, as Vendit bravely but hopelessly battles for a few more minutes of sleep.... Predictably, just as Vendit is overwhelmed by the Twin Alarm Clocks morning after morning, so too SNDA was just demolished. They gapped SNDA up excessively at the open and wasted no time, filling the retail buy orders that accumulated overnight in the first 5 minutes of the session. Then the professionals took over, and SNDA immediately began a long, steady selloff on about twice normal volume that lasted right into the close: 139.142.147.22 SNDA now shows early technical sell signals. I think SNDA is headed for a retest of chart support at 30, and if that fails, then it will push on to the lower BB rail, which just about coincides with the 200 ema. Entry would be the first print below $33.92 All IMHO, of course. T