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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Zeddie88 who wrote (117)	5/17/2005 3:43:10 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

Hi Rudi, RRI is in trouble. There was a topping formation that formed between December and mid-February, and that was followed by a steady decline and failure at multiple support levels. That's bad news, but the worst thing it that critical support at the 200 sma was broken, confirmed with a lower low and lower highs, THEN a bear cross just in the past few days: stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60]&pref=G So RRI has now satisfied all the major criteria that defines a new long-term downtrend. That spells doom and gloom for an extended period. The only bright spot I can see is that the most recent low was higher than the previous. But this is not nearly enougto make RRI a potential long position. In the short term, the BBs have gotten very contracted. RRI is neither overbought nor oversold. There are technical buy signals in place, but upwards momentum looks very limited to me: stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60]&pref=G 139.142.147.218 I think RRI is an excellent candidate for a short as it rallies into the declining 40 sma: stockcharts.com[w,a]daclyyay[dc][pc40][vc60]&pref=G Hope this helps, T