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 : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Joe Lyddon who wrote (7039)	5/17/1999 2:24:00 PM
From: Rande Is	Read Replies (1) \| Respond to of 57584

Pretty close, Joe. . .I think it will spike all the way back to its old support levels between 11 and 14, but rather than waiting for "exactly" that level. . .I would start watching carefully at 17. . .if it looked like it could keep going, I'd hold off and grab the super cheap . . Generally, I think it will establish a new support level above the old [which was established on very low volume]. . .probably between 17 and 20. . . all of this is contingent on it breaking thru 25, where it has recently seen major support on heavy volume. . . however that was when the Inet market was strong and there was plenty of volume in daily trading. . . The fall of Inets this spring/summner is on VERY low volume. . .making all the difference. . . I think we see these stocks breaking thru old support levels [like SIEB at 25] over time, due to general high-tech weakness, similarly to this time last year. Don't anyone get me wrong. . I am not 'wishing' a Bear market. . . nobody in their right mind would. . .not even the bears. . .only those that have never experienced one. I am rather 'predicting' a bear summer. . .based on what I believe has been a broad market bear that started about the beginning of the year. . . with several small bulls running separately within the bear market. . . [high-techs, internets, cyclicals] . . .seperate and unattached. . . remove those mini-bulls from your charts and you get a totally new picture of the market in 1999 so far. . [anyone want to create some charts to demonstrate this theory?] I don't believe that current Dow, Nasdaq composite or S and P indexes are effective in demonstrating what is really happening in today's market. A/D lines, the Russell indexes, high-tech indexes and others must be viewed as they impact one another and how they compare to the S and P, Dow, Nasdaq 50, 100, etc. Frankly, there is no current index that truly can indicate the changing dynamics of this current market. And that's why sometimes I sound like I am coming out of left field somewhere with a wild seemingly unsupported prediction. Rande Is