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 : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Al Greenleaf who wrote (7611)	7/17/2010 1:37:57 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 221930

Would you consider that a "failed buy signal" is a sell signal (of sorts)? Much like the recent H&S breakdown did not further break down? Excellent question, but no, not at all... a "failed buy signal" would be a buy signal that actually occurred with a trade above 1099.60 only to see the market close below that trigger price, therefore a buy signal would have been triggered but not confirmed, that would be a failed buy signal... yesterday we never even got the signal since the market never trade up to the trigger point... my announcement in the morning was only to alert everyone that a possible buy signal was not far from the market... as it turned out, the market fell away from that point without getting near it... this means the original confirmed sell signal is still very much intact from June 26th with a short at 1062.50... We closed just above 1062.50 on Friday, so any rally from here is an ideal short with a reverse point still in that 1099.60ish level... after Monday, that 1099.60 trigger point will begin to move lower, much like a trailing stop... We already have a vertical price at 992.00 for this current short position, but as of yesterday's action we also now have another vertical price at 955.20... this means the market may be moving much lower from here since the vertical price has now moved considerably lower... Was this helpful? GZ