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

To: sandintoes who wrote (127)	5/17/2005 9:48:30 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

BEAS is really at a crossroads here, because it is testing very important chart support at $8.00. But like SIRI (and QQQQ for that matter), there are definite indications that BEAS will soon rally strongly. It might not make it past $8.00 on this attempt, but BEAS has markedly improved technically. 139.142.147.218 Note the dramatic improvement in OBV... also notice that if you draw a trendline across the peaks of the stochastics, that BEAS has charged right throught that trendline now. Now look at this chart: stockcharts.com[h,a]daclyyay[dc][pb50!b200!f][vc60][iLg!Lyb20,2.0]&pref=G See how OBV is trading ABOVE its 20 sma (the red line)? And today, BEAS closed above the 200 sma with a very bullish candle. Now, BEAS is overbought, and has started pushing the upper BB rail open. So I think that BEAS will do something similar to what I posted about SIRI. That is, it will first trade back down to the middle of the BBs, then will push off that support and rally strongly right through chart resistance at $8.00. T