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.

Non-Tech : soc-sunbeam -- Ignore unavailable to you. Want to Upgrade?

To: WISDOM MILES who wrote (327)	1/30/1999 1:57:00 PM
From: go4it	Read Replies (1) \| Respond to of 407

Wisdom, <<good accumulation for months, when will it reverse up?>> Now that's the Million $ question. Looking at the following chart: iqc.com It appears to me that the stock is actually in a distribution phase not an accumulation phase. There seems to be support at $6.50 but I am waiting to see if it is going to retest the $5 level or at least for a clear bottom to be put in before I buy back into the stock. Until then I simply watch. Chuck

To: WISDOM MILES who wrote (327)	1/30/1999 2:19:00 PM
From: John S. Baker	Respond to of 407

Can't tell you when SOC will reverse up, but it is showing a lot of signs of basing, which usually happens before an upturn. Basically has been stuck on a trading range ... or channel ... since early August. Every attempt to break out quickly gets beaten back down by selling in a gut-wrenchingly perverse pattern. But each period of getting beaten down shows a tad more strength. As a personal rule on turnaround stocks, I look for an RSI indicator to move from below 20 to above 30 ... and SOC has done that three times <wry grin>. One could get whip-sawed pretty badly here, but it is encouraging to note that each time the RSI drops, it doesn't drop down quite as far as the previous time. And each of the RSI tops is a bit higher and stronger. I also rarely buy turnaround stocks when the CCI indicator is negative. With each recent downward trend, the CCI indicator settles in at a higher level than it did before. Both of these indicate gradually increasing strength ... gradually, indeed. Here is a plot of these indicators, if you wish to follow them for yourself. iqc.com P&F chart currently is working on a possible breakout from a triple top augmented by a shakeout ... would occur at $8. This would be a pretty strong signal and I reckon I'll pull the trigger when/if it gets to that point. I would be even more inclined if the breakout came on volume several times the normal daily amount. Hope this helps. Holler if you have a different take. JSb.