Runner, I'm confused by that second one. I mean I understand the pie chart bit well enough; but what is the significance of the plum-colored rectangle and of the lines connecting it to the pie chart?
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Originally posted by Rob View PostRunner, I'm confused by that second one. I mean I understand the pie chart bit well enough; but what is the significance of the plum-colored rectangle and of the lines connecting it to the pie chart?
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Well looks like things have been developing in favor of the bulls. I’m beginning to see technology starting to show signs of life. Here are some of the major Sectors that I’ll be watching.
Application Software
Computer Hardware
Internet
MuliMedia & Graphics Software
Semi
Telecom
Insurance
Possible Set ups:
ATRS
MU
ATMI
INFY
NTLI
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I consolidated my scans tonight of stocks still showing up as TRUE and looked over another batch. Thus far SEMI stocks still have the most out of my results. Here are the sector action showing the most possible set ups.
SEMI-BROAD LINE
SEMI-INTEGRATED CIRCUITS
SEMI-SPECIALIZED
SEMI-EQUIP & MATERIALS
Number of SEMI stocks=16
Second group is BUSINESS SOFTWARE & SERVICES
This group has 6 stocks
For the most part the rest are under 5 stocks in the group.
Punch List:
AB ADTN AGR AIRM ALTR AMD ASML AVCT BID BMC BOW BRCM BW CBRL CERN COHR CY EFII EGLT ESE FAF FDG FMER FORM FSL FTEK GOL HDB IDTI INFY ISE JBX JDAS KBAY KFI KLAC MBT MCHX MDCO MEDI MEOH MOS MSCC NOK NTLI NVDA PWEI RBAK REDF SNX STP THQI TRID TXN TZOO VCP WWGI WW
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Here is a simple candle chart of MDCO. Notice the simple horizontal lines plotted at key areas of support and resistance. Remember once resistance is taken it now becomes support. What I like about this chart is that it appears to be building a support area right here at current levels.
Notice the congestive area from back in July. It did test the resistance line and finally popped out and had a retest of line in Aug. Resistance successfully held as support as buyers propped price higher.
Current action indicates a little indecisiveness on the bulls and this one may bounce off this area here and move higher. For this chart you know you would be wrong if price fell much below current level.
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Originally posted by Runner View PostI consolidated my scans tonight of stocks still showing up as TRUE and looked over another batch. Thus far SEMI stocks still have the most out of my results. Here are the sector action showing the most possible set ups.
SEMI-BROAD LINE
SEMI-INTEGRATED CIRCUITS
SEMI-SPECIALIZED
SEMI-EQUIP & MATERIALS
Number of SEMI stocks=16
Second group is BUSINESS SOFTWARE & SERVICES
This group has 6 stocks
For the most part the rest are under 5 stocks in the group.
Punch List:
AB ADTN AGR AIRM ALTR AMD ASML AVCT BID BMC BOW BRCM BW CBRL CERN COHR CY EFII EGLT ESE FAF FDG FMER FORM FSL FTEK GOL HDB IDTI INFY ISE JBX JDAS KBAY KFI KLAC MBT MCHX MDCO MEDI MEOH MOS MSCC NOK NTLI NVDA PWEI RBAK REDF SNX STP THQI TRID TXN TZOO VCP WWGI WW
TZOO NVDA MSCC MEOH AVCT
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