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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Lahcim Leinad who wrote (29941)	6/30/2012 9:47:56 PM
From: sense	Read Replies (1) \| Respond to of 34857

" Pretty much everyone who wanted to exit NOK, did. Whom does that leave? " A whole new set of bagholders... and a cast of disillusioned future converts ? How many times might that rotation occur before...you know... Pretty much everyone who wanted to exit NOK, did, leaves no one left with a position to exit ? Charts look like serious selling and corrosive levels of distribution only started in April, with a rotation, thus far, of only half the OS. Easily enough could see two to four times that before a serious market disaster gets corrected... particularly when there's still hope among the faithful that this is just a short term anomaly... Looks to me like what the charts are showing is only the first leg in move lower from the point where people seriously began to entertain the idea that "problems" here meant... no real reason to hold the problems... Short term, my guess is that it might try to settle out a bit here and move sideways for a while, until the 60 MA pushes it into another leg lower... but, it's just as likely to continue drifting down with the lower bolly... maybe with a bit less volatility... Probably still a lot of people thinking they'll just hold on... weather it... while a lot of those who sold already may be thinking they'll wait and buy back it at X price... but, real events matter more than the chart dynamic which depends on them. Does the current chart show proper appreciation of the nature of the problems they face ? Longer term, the weekly chart is showing it forming a "pincher"... but, its REALLY early in that process, forming a pattern that you'd have to say is looking only "half" formed... I think I'll be watching this and looking for a bottom for a long time, yet... Not familiar enough with the company or its traders yet to commit to a chart pattern I see... so, for now will continue "watching" and not commit $ to even a short term trade on something I don't have a good enough feel for, yet...