More charts to ponder, and I do mean ponder. As a reminder, I come across as the Grim Reaper lately, but hey, I call them as I see them.
But remember: No one
knows what's going to happen. No one. I just look at the charts, and based on nothing more than pattern recognition, draw some conclusions that would put the odds in my favor for the short term.
However, your time frame might be longer or your risk tolerance greater. And therefore your conclusions might be 180 degrees in the opposite direction. To that I say, excellent, because, brother, that's what makes a market!
Agree to disagree? Let me know at
email@example.com. Special admission next week for anyone who can tell me which swim team just won the National Championships!
Stand By Me
Dear Gary: I'd like to ask you about a really bad one: Digital Island (ISLD) . It seems to be a good company that is doing things and has its own niche in the market, but it has just been crushed. If it gets any cheaper, they are going to start charging me for the privilege of owning it. Jett T. Hitt
A Second Chance
Look Out Below!
Gary: What about Scient (SCNT) ? Jim Mahassek
Locked in the Bear's Grip
Not One To Bet On
A Downward Spiral
Gary: Can you see what the chart says concerning Vitesse Semiconductor (VTSS) . Paul Bonser
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