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 : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (16915)	10/27/1998 11:42:00 PM
From: DanZ	Read Replies (2) \| Respond to of 53068

Cancun, market, ATML, VLSI Cancun sounds like a good choice. Las Vegas was fun, but I have been wanting to go to Cancun and we might want to try a different place this time. Even if they don't have casinos there, it's relatively inexpensive and should be a lot of fun. Maybe we should take a poll to see where the majority want to go. The market looks like it might want to correct although I think buyers will support it not too much further down. I don't see the major averages sinking anywhere near their recent lows. The DJIA has support between 8150 and 8200 which is only about 2% below todays close. The Nasdaq looks better than the DJIA although it has resistance near todays high. I think support is at about 1690, about 1.5% below todays close. The OEX has support between 515 and 520 which is just below todays low. Of all the indexes, the DJIA looks the weakest to me. This makes sense because I think money is moving into some of the smaller, value oriented stocks now. ATML has given me a bunch of good trades the past two weeks. It closed just below support at 10 today...too close to call, but it needs to hold right in here or it could fall back to 8 1/2 or 9. I think it's an excellent buy in that area, or right here at 9 7/8 if it holds 9 3/4. VLSI had an impressive day, fighting off weakness in the SOX to rally late in the day and close almost unchanged. The stock has very good support between 9 and 9 1/4 with resistance near 10. The money flow was positive today. The SOX has support at 246 which is about 1% below todays close. Resistance is at about 275. I think the semiconductor stocks have entered a new bull market, finally, and they will amaze you on the way up just as they amazed on the way down. It's a very volatile group and they can move further and faster than most people would expect. Overbought and oversold don't mean much with these stocks because they trade a lot on momentum. Best of luck to everybody tomorrow.