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.

Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (2475)	2/10/1998 6:05:00 PM
From: DAN KACKLEY	Respond to of 8218

Art- The technicals did show a break on the up side yesterday Yesterday the short term daily graph showed a slight break on the up side, although we still closed in the wedge Today we had a minor volume reversal for the daily patterns but will need some follow thru above 102 for conformation Looks to me like another short covering suckers rally! Only time will tell Good Luck and take some profits! Dan (The BEAR)

To: art slott who wrote (2475)	2/10/1998 8:01:00 PM
From: Chris	Read Replies (1) \| Respond to of 8218

hi art, <<Never exclude fundamentals and market conditions from technical analysis. Thanks for your warning. Fortunately I didn't heed it.>> Enjoyed your comments. some points to consider: 1) ibm has not rallied with the mkt as a whole. it is lagging the mkt and also, if you recall last week, one day.. it was down while the mkt was up. 2) ibm was truly on the verge of collapse. (still is, but i'll look on the bright side) <g> if you recall ibm was couple days below 200 ma and hitting 96 support.. that 96 support was crucial 3) as a trader point of view, the cost of time for having money "tied" up in a non-rallying stock is immense. especially for a $99 stock <g> of course, longterm traders/investors wouldn't mind.. but for $99, i could buy 2 picks of $30 for the same price.. conclusion: 1) ibm has not fallen.. but the key to note is that "it has not rallied either.." when i say rally, im not talking about 1-5% moves. im talking about 10-30% moves (ie: msft, sunw, intc, etc, etc) did my TA work? a) yes and no.. no in the sense that it didn't do that well with the "daily fluctuations". when it consolidates, it's kinda hard to time the up and down. b) yes it worked, in the sense, it confirmed that risk was higher than rewards and that ibm will simply consolidate and not rally.. when i say rally, i do mean a rally to 113.. not mererly to 101 and falter.. hope my views were clear.. just wanted to share my opinoins on what a "rallying stock" or a "buy signal" meant.. I'm looking for the BIG moves.. ======== P.S. if you look at the mkt in general.. timing is essence. i belive we will rally to new highs for the mkt, and then start falling once asian fears crop again as next Q's earnings come up again around march-may. ibm not rallying right now really hurts its chances.. you compare a rally of sunw vs ibm and you have that feeling that "geesh, will ibm ever rally?" my opinoins.. Chris