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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (5051)	10/26/1997 11:03:00 AM
From: eddie	Respond to of 13925

DD, I put my sell line for RSI at 80. If you look back at the past run-ups, it always turn back after it broached that level, or touches it. It seems CREAF has this particular characteristic for the RSI. I don't sell when CREAF do a correction because I am extremely bullish on this counter. But when RSI crosses below 40 (lately that seems to be the turning point) or the Stochastics just hit the oversold region, I am IN and more often than not, that seems to be the bottom. Of course, on 26 March the RSI did go to 30 during the 2 months of price erosion begining from the FEB earnings, when it closed at $8.8 on that day. Likewise on the next day in Singapore it went down to a low of S$13.00 and I wanted to buy more of it. But I was high and dry after chasing it downward (maybe foolishly) for 2 months. Guess the rest is history. I have been buying and selling based on these 2 indicators since and it appears to be quite good for me. I know Jon was predicting an $18.00 when it has a quick drop for 3 days prior to the earnings, but I just cannot resist it when I saw the RSI at 40 and Stochastics just about oversold. Normally I do not wait for further confirmations as the run-ups subsequently are quite phenomenal and adding to the bullishness here for Creative 50, I may end up paying alot more for it. When I first come into SI, someone actually referred to a message by Renklauf. I subsequently printed that page of first class description of the future of CREAF and held that in my file to further boost my confidence when CREAF started going down hill, beginning from FEB. And of course, I always remember a NUT by the name of PATRICK YAU !!!