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

To: William who wrote (7053)	3/10/1999 4:46:00 PM
From: William Epstein	Respond to of 7841

William; Good question. Throws my words up into my face. I looked at the charts again. The one year chart shows that the 180 day SMA was pierced 3 times, recently. If you look at it there are 3 down spikes below 28. All are 1 day spikes. The 180 stands at about 28 now. the 120 day SMA stands at about 30. I looked at a 10 year chart and it too shows that it was pierced. However, the 180 day SMA while pierced still remains as a strong indicator. (I MIGHT ADD that at the time I said it the 180 was at 25.) SEG hasn't stayed below it. I believe the long term uptrend is still in place. Source: Big Charts.com. Another thing I have noticed and I don't know if this is for real but John Murphy and John Bollinger both say that when a stock tests its bottom it will sometimes, spike down 3 times and then will begin to move up. We'll see if that classic formation really works. So far the bottom was reached at 26 1/8 on the first down spike and the stock has not gone below. Also that blood bath was convincing in that the accompanying volume was there, 9 mil. shares. The other 2 spikes did not have the accompanying volume. By the way, they say the same for a a major top. I think I once said this too, I quoted an old broker I knew. He said, "If a stock can't move up, it moves down." I have usually found this to be true. I'll add that if a stock can't move down, it moves up. Believe it or not, some things don't have logical reasons. They just are what they are. PHOTOMAN