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: bobby beara who wrote (14026)	8/5/1998 9:00:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Even though I respect your opinion and I am in this present market more inclined to agree with you, I personally will wait to call this a bear market until key indices move below their 200 day MA, and key stocks move below key supports. Some bellweathers already have. It is not looking pretty here. However, I do agree with what you said in your post 100% about choosing new indicators for a bear market. Very intelligent observations. Also this market has already changed, so the same approach and indicators used during the bull segment of this market are not working right now. Bob Graham

To: bobby beara who wrote (14026)	8/5/1998 10:21:00 PM
From: KM	Read Replies (1) \| Respond to of 42787

<<emotional attachment is insignificant!>> Actually, you appear to be pretty emotionally attached to your position, if I may say so in the nicest way.

To: bobby beara who wrote (14026)	8/6/1998 12:20:00 AM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 42787

Well said BB. That is what I and Bob Graham are trying to stress to people but apparently no one is listening. DELL did NOT bounce off a moving average and neither did the NASDAQ or any other stock today. Apparently these people were watching a different stock market than we were today. DELL, the NASDAQ, all stocks bounced when the guy took his finger off the sell button and pushed the buy button. Everything fell through supports, trendlines etc. They never even hesitated at the critical numbers, there was an all out free fall. Yes some people put in market orders and got filled seconds before the bounce and were able to sell 15 minutes later for a double. A good trade? Gutsy and profitable yes. Smart? not IMO. I made a stupid play myself doing almost the same thing yesterday but at least my buy was at a support level where I was expecting a bounce. I also ditched immediately today because I recognized the Danger of what I was doing, took my profit and hid in the corner. Maybe I don't have what it takes to be a trader in this market if it means buying stocks that are in free fall hoping that someone will step in with a few billion dollars and reverse the market for me. I have been charting and studying TA for years but the last hour of today was a free for all with no rules other than let the big boys play and stay out of the way. I intend to do so until this market makes up its mind as to a direction, or shows some clear signs of stability. There were allot of hammer formations today yes but the bottom of those hammers weren't touching anything. A real bottom hammer is testing a support level. Yes maybe DELL did approach one down there but I look at the big picture. Most of my charts are showing stocks with hammers dangling in space where there is nothing below it. No supports, trendlines, nothing. If the guy leaves his finger on the sell button tomorrow and never pushes the buy button, some stocks will be worth just that, nothing, or at least no where near where they ended today. October 97 was a 500 point drop, this has taken us down 800+ so far already. DELL went from the 100s to 70 last October, it could be 60 tomorrow.