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: AlanH who wrote (14427)	8/11/1998 3:33:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

If you did witness a buy program, and we are now seeing the results, this would indicate the market is not ready to move up from here yet. That may not have been a buy program. TICK need to go from like -300 to + 700, or something along those lines. Update I see that the markets move down was also met with support. I looked at individual stocks and came up with an interesting picture. The "blue chip" variety did recover to some extent from the low of today, but now they are meeting and in some cases have periodically validated this resistance through the day. Others like INTC did not really go anywhere but is consolidating above its support. Now the stocks like CMGI and even YHOO are at resistance. AMZN is the one that has broken through its resistance and is consolidating just above it right now. So I think the market will find it dificult to recover its losses today. Successive attempts by the market to move up has been met with resistance. The picture provided by the individual stocks shows why this is the case. The market may end up closing near its low today. Bob Graham