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
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
So Much For Resistance
How about a look at the chart of
? I am trying to decide on the significance of the resistance lines. Thanks!
Can't Fight the Trend
How about famous
? Your thoughts, please.
Gotta Wait For a Breakout
Get a load of
! 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?
I'm unloading most of my positions. Would you look at
-- the market looks like the trading range is tightening up, and it may get real tough to trade. Maybe the bear is for real.
Third Time's the Charm
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,
One For the Hometown
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
. I bought in on these on the first dip ... not the fourth, and I'm starting to sweat it!!!
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
Will you please take a look at
? Any words of encouragement there?
Stand Back, Folks
Appreciate your column very much. Was wondering if you could take a look at
Kulicke and Soffa
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