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 : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Hank who wrote (630)	4/8/1998 12:26:00 PM
From: Jim Roof	Respond to of 4634

For what it's worth, I had more time a few years back and used to follow about a hundred issues real closely. On the big corrections, especially the days where trading seemed to have no bottom in the broad market, many issues still showed the support where the chart showed they should. I finally learned that corrections are nothing more than a ton of issues ripe for selloffs and some little piece of economic news sets it off. In fact, the big telecommunications sell-a-thon over a year ago happened even in the face of good news. While I think you are right about overall market trends I still have to remember that it is a market of stocks and it is the price action of the single issues that culminates in what is the broad market. As for ZONA, you might fiddle with some trendlines drawn from it's low a few months or so back to the present dip. I think it's a pretty tight fit and you can do the same for the tops as well. It will not work on an arithmetic scale - it's got to be semi-log for it to make sense. I suspect that ZONA is in an intermediate correction from its major bear trend. I do not think it's turned around in the big picture (just like I don't think BTIM has headed south for good either - the two are opposites right now as far as I can tell). ZONA is a bear turned temporary bull and BTIM is a bull turned temporary bear - I think they both will return to the former trend. Just for the heck of it look at THRX. This is a fundamentally sound firm. I bought at 8 and stopped out in the mid-teens - DAMN (could've made 100k with my original position!). Got back in with a small position at 17 and cashed it in at 46 but looks like a top to me - maybe a major top. Jim