... you should ask Yahoo to delete message 1636.
Now you'll probably get a ton of junk mail!
Thanks for complaining about those spam messages. When I
saw them, I threw up my hands and was thinking of
moving to another board. I suppose I should follow up
and complain also.
I agree with most of your
assessment of the recent action. But, boy, you DO sound
nervous. The sellers are at 52 5/8, but I'm not sure the
uptrend on the hourly chart is as strong as you are
seeing it. It looks like all the big boys did their
business in the morning and then went to the beach and
left it to the little guys who were not strong enough
to hold a firm uptrend.
We closed with a nice
harami candle to say that the current trend is frozen,
but it isn't clear what we'll do on Monday. If we
open where we closed, we'll be below the first uptrend
line on the hourly chart, and that's good enough for
me. I'd like to see us open lower, and move up to 51
3/8, where I might have enough nerve to short
But, bottom line, you should have covered two days ago
on the CPI news like everyone else did!
of luck to you. I won't say "to all" this time,
because it seems you and I are the only ones going short
here. I hope I haven't lead you to ruin.
We finally broke that 55 resistance and ERTS
easily moved past 57 just as various folks here had
predicted! Way to go!
I could not resist selling my
trading shares at the end of the day today with an eye to
getting long again on the next pullback or going short if
the technical analysts here see a top coming.
ERTS 1999 annual report is available at;
Once any company is selected, click on the
state of that company. All companies within
the same industry or
state will appear. Additional
annual report selections may be
made at that time.
...enjoying the chart discussions, even though I
only understand about 10% of it! :0
to the past few days is very bullish. yes, we have
resistance at 55, but I think a lot of people put in sell
orders at 55 a long time ago and are somewhat
responsible for that. I think we're dominated by small
investors right now. I am still looking for 59 by this
fall, heck it might even hit that by earnings release
(is it 8/6?)
IF (and it's a big if) we break
60, not sure where the high is. I think it depends on
what kind of news we hear out of corporate. Online is
their next big play. Ultima Online is continuing to do
well even after Everquest's release. That's a VERY
Tiberian Sun will be one to watch
later this summer. And, of course, EA Sports has got
Madden, NASCAR, Tiger Woods releases all planned later
Good Good Good!
I pretty much expected to see this low volume
pull-back this morning. The buyer has stepped away for the
day. So it is likely we will get our bearish candle,
unless the FOMC makes everyone happy and they buy in the
second half of the day.
An important note about
that candle: NEVER trade based on an "expected"
candle, because you might get the opposite. Wait for the
formation to complete. So, even though we look weak right
now, you can't go short based on it. A big part of
using technical analysis is patience. We still haven't
formed the third line of the fan on the hourly chart,
much less broken it.
Best of luck to all!
Volume was very light to start the day.. just
12,300 volume in the first 25 minutes, but now that I
look, it's up to 23,100 after 35 trading minutes. We're
hanging out in the low 54s (then high 53s). So you think
we'll head down from here if ERTS closes down much
today and completes that bearish candle?
53 3/8 on 33,800 volume at 10:14am.