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 : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Suresh who wrote (19823)	2/11/1999 4:12:00 AM
From: Clint E.	Respond to of 69207

Hi Suresh. >>>>big boys of NAS on the -ve MF on a neutral day. So, still the distribution is going on..... Quite misleading considering the high % of bullish sentiment that is mentioned numerously in support of the bears. I don't believe that 60%+ bullish sentiment data and getting tired of hearing it. I also consider the declining volume as another indication that traders have turned less bullish and cut back on their double and triple entries into stocks on daily basis. While I am at it, let me get one more thing off my chest! Another popular phrase mentioned by many in the media is that the NAZ has shot up ~71% from its Oct 8th. low of ~1460. Nobody mentions that the NAZ had no business of dropping to ~1460. If they want to compare, compare against its 200 dma(~1750) before the bloodbath. That gives you 43% gain to the top @ ~2500 instead of 71%. In that case, 1/3 pullback from the top puts you at 2275{2500 - 1/3 x (2500-1750)}. Hey, our intraday low was 2290 on Wed. Clint PS, we may have formed a short-term trading low and with some good news see a few days of rally ahead. I may add more longs.