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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (5051)	7/4/1998 12:32:00 PM
From: Chip Anderson	Read Replies (1) \| Respond to of 16960

Re: Internet attention What are you referring to? I haven't seen anything out of the ordinary mentioned here or on the other boards. Please post any links. Chip

To: Paul A who wrote (5051)	7/4/1998 2:57:00 PM
From: Joseph J. Valenzuela	Respond to of 16960

Whether Thursday was a typical trading day or not, two indicators that I like to use generated short term buy signals prior to 7/2. Williams %R which had been hanging out in "oversold" territory since the big drop on 6/17, reversed direction and moved out of the implied oversold territory on 6/30. %R is now 72. Stochastics also showed a short-term "buy" signal for trader on 7/1 when the fast stochastic (%K) crossed the slow stochastic (%D) to the upside. Moreover, %K which is sitting at 23 has moved out of the sub-20 oversold territory. %D which is at 19 is close, too. If they both cross 20 to the upside, that will be another short-term "buy" signal. The Commodity Channel Index (CCI) is also coming along for TDFX. It has been sub -100 since 6/17, and has moved up to -106 as of the close on 7/2. If another up day pushes the CCI over -100, that's another short-term "buy" signal to traders. Moreover, as Chip has illustrated, Moving Average Convergence Divergence (MACD) is also showing a buy signal for traders. So we're looking at three of these four indicators generating short-term buy signals, and the fourth is really close depending on Monday's action. However, with the 200-DMA and the 50-DMA sitting around $20, TDFX needs some big volume to penetrate that overhead resistance. I'm thinking 6 million+ shares (that's the amount that traded on 6/17 and 6/18). If you're trading TDFX, stay nimble. Remember, technical analysis can just help you improve your odds on winning trades. It is just another piece of information. Good luck to all and trade wisely! Best regards, Joe Valenzuela