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.

Technology Stocks : Brightpoint - CELL -- Ignore unavailable to you. Want to Upgrade?

To: Jolie Renee who wrote (880)	8/27/1998 3:05:00 PM
From: Paul Shread	Respond to of 1999

I like the fact that CELL is way off its lows, but other than that, I can't find many positives. S&P could close above 1054 today, but given the damage I'm not even sure that would be a positive. The 8100-8150 area on the Dow was a good place to hold, but we've got one long hour to go, and you know what they say about support. ;-) Hopefully this will be that climactic sell-off we've all been waiting for (and I thought had already happened). Looking forward to 2-3 year charts on CELL. Good luck, Jolie.

To: Jolie Renee who wrote (880)	8/27/1998 3:35:00 PM
From: Paul Shread	Respond to of 1999

Just found a two-year chart; Baseline has them if your on-line broker offers them. Support at 8 occurred in April 1997 correction; looks like we tested 8 1/2-8 3/4 a couple of weeks later. The only problem with a two-year chart is I can't tell you what the bottom was in the July 1996 correction, but it looks like we found support at various points at 7, 6 and 5 between August 1996 and April 1997. No double-bottoms on the chart prior to the last 10 months or so, so 9 could make sense as a bottom here.

To: Jolie Renee who wrote (880)	8/27/1998 3:39:00 PM
From: Paul Shread	Respond to of 1999

Number of news lows swamping new highs by about 2200 to 30, according to Briefing; that would eclipse the previous Black Monday 1987 record by about 1,000, I believe. Wow. That's damage.

To: Jolie Renee who wrote (880)	8/27/1998 4:39:00 PM
From: Paul Shread	Respond to of 1999

Well, we outperformed CLST, at least. And finished about 10% off our lows, which is more than I can say for the rest of the market. What an ugly day.

To: Jolie Renee who wrote (880)	8/27/1998 5:32:00 PM
From: Paul Shread	Read Replies (2) \| Respond to of 1999

Nikkei futures down about 700 points, which would blow through the August 18, 1992 low of 14,309 by 500-600 points. Hopefully we'll get a wash-out tomorrow; volume today was the second-highest ever (after Oct. 28). One correction: my new lows numbers was for both Nasdaq and NYSE, so it wasn't a record. We had 1,018 new NYSE lows vs. 1,174 on Oct. 20, 1987. On the Nasdaq, we had 1,125 news lows vs. 2,101 on Oct. 20, 1987. The Big Board lows today were about 300 higher than the trough of the 1990 bear market (another perverse, contrarian positive).