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 : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: RockDoc who wrote (1538)	12/7/1998 4:42:00 AM
From: HeyRainier	Read Replies (2) \| Respond to of 1720

[ SNRS ] RockDoc, Despite the impressive run on Friday, the Primary Trend for SNRS still remains down. The trend line boundary at this time coincides with the 144 day moving average, currently at the ~$6.00 vicinity. Once a sustained closing price above this level is reached, then I would be more apt to acknowledge a longer term change in sentiment for SNRS. Closing above $6.00, and staying above it, would tend to signal an improvement in the longer term Technical strength of the issue. Just as one battle doesn't win a war, one day's impressive run doesn't necessarily reverse the course of an eight-month, negative sentiment for the stock. Indicators have been jolted--which is good--but what's necessary is the sustained buying power that would indicate a true change in the accumulation/distribution sentiment. SNRS-to-S&P500 relative strength just reversed course, but again, sustainability is crucial here. In addition, the longer term accumulation stream has yet to reverse. But the underlying, sustainable change in Momentum from 11/9/98's close may point to stronger verification signals from other bullish indicators. It takes a lot to steer a big ship, as it does to reverse this particular indicator I follow. Since it's a longer term indicator, when it reverses, I listen. And it changed on 11/9. Keep an eye out for this. The stock is overbought by short term historical measures, but experience says stay with the trend until the shortest term signals reverse. $6.00 is the overhead resistance, from both the above-mentioned trendline and from historical pivot points in the stock's price. As for my limited visibility on the SNRS thread, or any thread for that matter, it is because my CFA studies are currently consuming all of my non-working hours. At this point in time, I have opted to play the role of observer rather than lead player, because for every minute I trade to be on SI, I lose an equivalent minute from my studies. I hope you understand that posts like this from this point on will be few and far between. But for the wonderful crowd in the SNRS camp, it is my pleasure to help out at this time. RT