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 [e-mail].

So Much For Resistance

Hey Gary:

How about a look at the chart of Immunex (IMNX Quote)? 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 Quote)? Your thoughts, please.

William Cheriegate

Gotta Wait For a Breakout

Hi Gary:

Get a load of Citigroup (C Quote)! 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 Quote) -- 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 Quote)?

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 Quote) PE-Celera Genomics (CRA Quote) and Nokia (NOK Quote). 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 Quote)? 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 Quote) for me.

Tom Klock