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 : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (7476)	4/3/1998 12:19:00 AM
From: Kenneth R Miller	Read Replies (1) \| Respond to of 42787

Chris and others.. Look at MYG (maytag) famous name brand appliance maker from Newton, IA.. I'm new to T/A, but this looks like a break out to new highs.. I noticed some stronger buying today... and it notched up 1 3/8.. I might buy some more tomorrow if it still looks this strong.. they are expecting very strong earnings report on 4/17 or 4/23 depending on where you get the reporting date. Quote now at 50.9375

To: Chris who wrote (7476)	4/4/1998 4:46:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Looks like WIND is testing resistance near 38, according to these confounded web charts. Monday of next week should be revealing. The technicals do continue to improve. I have not been able to pull up a T&S through Papyrus the last couple times that I have tried, so I have not been able to see the quality of buying. I must say the recent downward action was predictable. I do believe we have been seeing distribution and the price being kited by the MM. With the volume transactions I have been seeing that collectively dwarf this stock's normal daily volume, I would of expected this stock to behave much differently. I would not of expected to see this stock revisit below the level it attained on very high volume the previous Friday where there was a gap up from the previous day's trading range. So these very large block trades have not been adding anything substantial to the price action of the stock that cannot evaporate in a few days which is contrary to what I would normally expect. Here we have institutional interest at 65% with this stock not including insider interest. So we have an effective float of about 8M at most. In this type of stock, much of the institutional interest is locked in and has to wait for abnormally high activity to sell. Daily trading volume appears to be about 400K which is 5% volume turnover of the effective float. However, we have been seeing unusual large volume trades which must indicate some institutional selling thatis a part of this effective float. The price can move up afterwards but the price can subsequently cycle back down. In the past the volume spikes occurred at or near price peaks. Now higher volume is starting to show up near the bottoms going both ways, up and down. So trading action on this stock has been changing in quality and amount and coincidentally the stock has been swinging up higher. However, sustained upward movement has not been possible and it has now revisited a price that is below the price its recent upcycle took off from under very heavy volume with volume trades now on the downswing. The price action of this stock at the beginning of next week should be telling and indicate if the upward bias of this stock will continue. If the stock rebounds, then this would be much more convincing to me of an uptrend in the making for this stock. If this stock moves below 38, I would say this stock is being played with. Bob Graham

To: Chris who wrote (7476)	4/4/1998 7:50:00 AM
From: donald sew	Read Replies (4) \| Respond to of 42787

Hi Chris, Well, its about time to take profits/sell calls now. Calling for the interim top of this rally to arrive TUE/WED next week and a technical pullback, nothing big, to bring us to 8750 range by the following week. As you know, I mainly deal with short-term technicals. What are your long term trend lines stating in reference to time and price projections for the DOW?? Seeya