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 : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (20290)	4/7/1999 12:05:00 PM
From: dennis michael patterson	Respond to of 42787

Bob, I am saving one of your messages on the trading books, as I have been out straight since getting back. You were prescient as hell here! Later today looks interesting. The end of the day will tell the tale. Big blocks in my favorite-- EMC -- selling at or just above the bid. I have puts for protection.

To: Robert Graham who wrote (20290)	4/7/1999 12:39:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Looks like indices in a broadening pattern. The NASDAQ moved a good distance down past good intraday support and found interim support at the top of the gap up made on the 5th. Looks like a bounce is in progress. No similar type of sell offs with the DJIA or SPX. The NASDAQ sell off was reflected in stocks like MSFT. INTC sold off but is demonstrating better strength by staying above intraday support. AMZN also sold off past intraday support. AOL also sold off but has validated its intraday bottom made yesterday. Hmm...wasn't there an earnings release for YHOO? So that explains why YHOO sold off as much as it did during the previous day. It now has also validated its intraday bottom made yesterday. I wonder if YHOO met or exceeded consensus, and by how much? It looks like stocks that have been demonstrating recent strength have validated their bottom that was put in yesterday. This is a good sign particularly since this list of stocks makes up some key stocks in the current market. The NASDAQ put in a price rejection which can be the beginning of a longer term bottom. I think the market is ready to move back up from here in the afternoon session. We shall see how some of these stocks will deal with overhead intraday resistance, particularly the stocks that sold off below intraday support like AMZN. I still am not liking what I see in the price action of some of the key stocks and indices. And the broadening patterns I am seeing does not bode well for the market near term. I expect the market to either remain the same by the end of the day. There is a possability of a further sell off. Tomarrow will provide a real clue here. Bob Graham