Not Too Short and Not Too Long
It's Wednesday noon as I write this, and HA! Maybe this whole
Dow
10K thing was a big fat joke! However I hope not, because I've already penned a piece for the occasion that is, humbly, a killer! Also of note: I now have seven long trades working ... and six shorts. So if my trades are a good indicator of the market, then let's just say this ascent to the holy ground will certainly be sloppy.
Also, a note of thanks to everyone who joined me on my recent
Yahoo!
chat. They are truly fun to do, and I hope you enjoy them as much as I do. And, incredibly enough, I don't get paid a cent to do them. (I know, I know: Even at that rate, I'm overpaid!)
Questions? Comments?
NCAA
predictions? (Puh-lease -- if it's not my alma mater in a walk, then there is no justice!) Send them to
technicalforum@thestreet.com along with your full name. (Sorry, all the
X-Files
names have already been used!)
Triple Digits
Hello Gary, Thank you for your great work -- for me it is the essence of
TSC
. Timely, based on a good model and delivered with humor. I have been long on QUALCOMM (QCOM) - Get Report since July. The company has wonderful technology. Could you please tell me how the charts look? Ron Zybura
GBS Special
Hi Gary How does Staples (SPLS) look to you? Like a chart, I know, but what do you think it's going to do? Don Crisp
Real Cautious
I really enjoy your analysis. Can you offer an opinion on RealNetworks (RNWK) - Get Report? The chart looks super bullish to me. They broke through 70 with authority, and that was their third time testing that high. They now appear to be in a rising channel. Can you offer an opinion? I looked at a 3-month chart. Thanks. Mike Barrett
Trans-Atlantic Slip-Up
Gary, I have been reading your work for several weeks now since I subscribed to
TSC
. Please could you have a look at the chart of Micron Electronics (MUEI) and give me your thoughts. I bought at 18 1/2 on what I thought was a pullback. So much for my foray into the world of U.S. stocks! Peter Smith, U.K.
Beat the High
Could you give me your long- and short-term technical analysis on Genzyme (GENZ) ? Thanks. Todd Maushund
The Learning Curve
Is AOL (AOL) looking strong and solid from a TA point of view? Or am I just as dumb as some people have told me I am? John Bray
Trap Door
I was wondering if you could share your technical expertise on the shares of Keane (KEA) ? How low can this go, and where is a good entry point? Pat Thompson
Not Enough Trading Going On
Gary: I am enjoying your column. Any chance you could take a look at Schering Plough (SGP) ? It broke out of what looked to me like "congestion" on March 12 but I'm a little concerned about the volume. What do you think? Todd Hilliker
Life With Gary
Gary, After every article it says that you trade from your home. Please share with us your setup, if you can: Which broker you use, what computers, how many screens, info feeds, connections (ISDN, T1 or satellite), how you set up your screens etc. This information would be very helpful to potential traders. Peter Ryan
Peter, I'd like to think my setup is the essence of simplicity. In that vein, my primary system has these components:
An IBM i Series laptop with 64 MB, a 4 GB hard drive, and a 300 MHz chip. This is fast enough to allow me to run all my scans quickly, and the mobility is a big plus as I can download data and trade when I'm traveling.
My software is the very simple, yet powerful,
Worden Brothers
TC2000 (
www.tc2000.com) This software includes both data and charts, and it's really all I need.
For quotes, I like
MyTrack
(
www.mytrack.com). Also simple, also cheap.
My data connection is still IBM.net and I'm able to log on most places at 56K. If you travel, you really want an ISP that has national and international local access numbers, and IBM certainly has those. When I was in Connecticut, I did have a cable modem, but now find I really don't need the speed, since I only log on briefly throughout the day.
As for my broker, I am very pleased with
Yamner
(
www.yamner.com) How and why I arrived at them, is detailed in my
June 22 and
June 29 columns.
Finally, I do have an IBM Aptiva as my desktop and backup system. Always handy to have another bullet in the chamber, although not an absolute necessity.
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 had no positions in the stocks mentioned, 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 also writes Technician's Take, which appears every Monday, and Charted Territory, which runs Wednesdays.
