It's been very ugly. The chart still looks bearish but there has been a positive divergence in the accumulaiton indicators over the past several days. But that is not a strong enough of an indicator to say it has finally bottomed. AIRN is still a gamble as are many tech stocks that are losing money. Until the performance improves their prospects are questionable.
I was excited to see the insider charting but I'm having trouble figuring out exactly what they are showing. For example FFIV showed (in the list below the chart) some gift buys in early may that don't show up on the chart, the "AS" sales in August are not showing up on the chart in August (trade date) or sept (sec reporting date), the chart shows insider sales increasing drastically in early oct 2001 but there was no selling or reporting in early oct. There were some sales at the end of oct 01, but those are not showing up, etc. No matter how I look at it (sec reporting dates or actual sell dates) nothing seems to correlate between the insider buy/sell indicator on the chart and the list of trades below the chart.
There are other good charting sites. One worth taking a look at is WallStreet City. A unique feature of their charts is the ability to chart insider activity. This gives an interesting perspective and is an added tool to use in confriming long term trends:
Take out the x's in the URL
that is looking slanted toward bullish. You can see this in a gragh of the VIX - a volatility indicator. The VIX moves up as investors turn more pessimistic and defensive. A move above 40 is often followed by a market rebound. A move to 45-50 almost always leads to at least a bear market rally. The previous time the VIX moved over 45 was right after the September 11 crisis. The last time was just in the last few days. A graph of the VIX can be used a a barometer to gage the degree of worry in the market and accurately deisplays when pesimism is building and then fading. You can see that moves up in the VIX are failing: a sign that the downturn is running out of steam: http://stockcharts.com/def/servlet/SC.web?c=$VIX,uu[w,a]daclyiay[dd][pb50!b200!f
nobody knows where the market is heading right now, This is the most confusing market I've seen. a lot of good traders are in 100% cash because the trend is unclear, it's too low to short, too high to buy. try to stick with MFST.
Thanks for the volatility lesson. I've been using the stockcharts site for a while. It's one of the best free sites out there in my opinion. I especially like the technical indicator scans.
The QQQ chart also looks bullish. Yesterday's move, today's open, clearing the 50 day MA today, and lack of real resistance till roughly 26 are all positives. Unfortunately I still have puts in place as a hedge against terrorist acts today so I'm not rejoicing in the QQQ move.
Check out TVIA. Excellent balance sheet. Trading at about 1/2 of net cash (cash less ALL liabilities), and just announced a buyback of over 20% of their stock.