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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (53472)	8/28/2011 6:12:13 PM
From: Return to Sender	2 Recommendations Read Replies (1) \| Respond to of 95541

Jacob, I looked at TAN in daily, weekly and monthly chart forms and found it looked like a good long in every time frame except the monthly for long positions rather than short. That's not too surprising since the market was extremely oversold two weeks ago. I like the volume of buying that took place with the ETF which shows accumulation. So looking at it in a vacuum I like your trade. Unfortunately my concerns about the overall market still remain valid. In a bear market way more than 90% of all stocks trade lower. We are seeing continuation patterns on virtually all the major market averages. They will need to breakout of the triangle formations on high volume before I go bullish. I just don't see that happening. I did fool around a bit with the charts that pychuang suggested he is watching. I of course do watch the $NASI and $NYSI but the 5 day US Total of New Highs and New Lows EOD was a new indicator to me. I think I am in love with it. <VBG> Thanks pychuang! I put it on a 4 year chart here versus the NASDAQ. Red is not good if you are a bull. Looks like a cross over back into green can be a very good buy signal on the market: On the NASI and NYSI the horizontal lines are important in that red denotes that bulls should be cautious about entering new positions. Cross overs like we recently got below the green line indicate that bears should be closing out positions and looking for long entries. Note that I am much more familiar with this indicator and that the NASI and NYSI were showing a series of higher lows even as the market set a lower low in March 2009: As long as Don does not mind I really enjoy discussing everyone's thoughts on potential investments. As long as no one expect my opinion to be any better than the next guy's I learn from these discussions. Plus I think your trading has been excellent Jacob. You may be early sometimes but overall you've been doing great. RtS