Am I Bullish Yet?

 

On Friday I received quite a few emails with the inevitable question, "Are you bullish yet?" And the answer is ... maybe.

OK, here's the deal. It takes me a few hours to put these columns together. And that means I have to start looking at the charts about midday on Friday. Now, back in the good old days when the indices didn't move 10% a %#^$&% day, the difference between a noon view and 4 p.m. view was inconsequential. Now, of course, it's a different story.

So, given that the Nasdaq chart below is a noon view, I don't know where it'll close. Still, I know if it can close solidly above 3775, I'm a bull again. If not, I keep my bear hat on! (Editor's Note: The Nasdaq closed on Friday at 3860.)

I Guess I'm Bullish

And, of course, I have my usual compendium of charts, each with the usual GBS witticisms and nonsequiturs. Have your own witticism? Let me know any and all at technicalforum@thestreet.com.

So Much For Resistance

Hey Gary:

How about a look at the chart of Immunex (IMNX)? I am trying to decide on the significance of the resistance lines. Thanks!

John Vietor

Can't Fight the Trend

Gary:

How about famous Motorola (MOT)? Your thoughts, please.

William Cheriegate

Gotta Wait For a Breakout

Hi Gary:

Get a load of Citigroup (C)! Tighter and tighter range, and dwindling volume. Looks like it is defying gravity. I know this is rather contrarian on the heels of the Canelo piece, but looking at Citigroup, I see a bearish diamond and a sub-$50 target. Am I nuts?

Cindy Robbins

Another Wait-and-See

Gary:

I'm unloading most of my positions. Would you look at Intel (INTC) -- the market looks like the trading range is tightening up, and it may get real tough to trade. Maybe the bear is for real.

John Carioscia

Third Time's the Charm

Gary:

In trying to find something that doesn't have to go down, how about looking at a broken-down Old Economy tech stock that still makes a lot of money and has a P/E ratio of 12, Xerox (XRX)?

Rich Keeling

One For the Hometown

Hey Gary:

Help a local Allentown guy out and I'll send you a Yocco's Doggie pack!!! If you have a spare moment, could you give me your opinion on JDS Uniphase (JDSU) PE-Celera Genomics (CRA) and Nokia (NOK). I bought in on these on the first dip ... not the fourth, and I'm starting to sweat it!!!

Shane Wenner

Shane: If you had only thrown in the pirogies, I'd have looked at all three! For now, let's look at JDSU.

Trying to Buck the Downtrend

Gary:

Will you please take a look at BEA Systems (BEAS)? Any words of encouragement there?

Jackie Golson

Stand Back, Folks

Gary:

Appreciate your column very much. Was wondering if you could take a look at Kulicke and Soffa (KLIC) for me.

Tom Klock

>To order reprints of this article, click here: Reprints

Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes five technical analysis columns for TheStreet.com each week, including Technician's Take, Charted Territory and TSC Technical Forum. While he cannot provide investment advice or recommendations, he welcomes your feedback at gbsmith@attglobal.net.

TheStreet Premium Services    For Personal Service: 877-471-2967

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
New: ETF Profits
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Doug Kass
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,769.90 1,341.52 2,906.44 19.83
Oil *
117.58
DOWN
120.56
DOWN
10.43
DOWN
20.79
DOWN
0.64
10 Yr
1.98%
SPDR Gold
167.29
-0.94%
-0.77%
-0.71%
-3.13%
Data delayed 20 minutes

Top Stories and Tools

Brokerage Partners

After the Bell

Before the Bell

Booyah! Newsletter

ETF Daily

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet