RICHMOND -- Not a bad first day at the Coca-Cola Classic for my two little swimmers: six events, six personal bests. Oh, and Diana's medley relay team set the meet record for 10 and unders. Nice. Very nice.
But, one thing that isn't going to set any records is this market. As one of my friends said to me recently: "What if this goes on ... forever?" Yeah, really!
But, could it go on forever? Well, my gut tells me we'll be over the worst by summer's end. On the other hand, I've noticed lately that when everyone is leaning one way, the market decides to go in the opposite direction. That is, if everyone is lying in wait for "the bottom," then maybe we keep drifting aimlessly until everyone throws in the towel. Me? I'm paying more attention to my golf game lately than the market. At least I can fix my golf game!
You need something fixed? Try moving your grip a bit to the right if you're slicing, as eight out of 10 golfers I see with big bananas have a grip that's too weak. All others need to email me at
email@example.com for personal advice and lessons!
There's Better Plays Out There
I would appreciate your comments on the
Internet Capital Group
chart. The narrowing of the Bollinger Bands would suggest it is ready for a move up. But with the negativity of the market in general, and the B2B companies in particular, it's difficult to tell where it might go.
Looking for the Logic
I wonder what you think of the chart of
. The company is one of
Breakdown Candidate Here
Would you mind doing a chart on
? I know it is not pretty. I have considerable paper losses. Should I hold or cut my losses, based on your TA?
A Wild Ride
? I started buying at $25, saw my position get all the way to $113 earlier this year and then collapse down to $21. It's been rallying again lately, but since it's been all over the map I am not sure if I should buy, sell or hold. What do you think?
My question is about
. It is obviously caught in a downtrend, but it appears that the trading range has narrowed considerably. My opinion is that the next major movement will be up. What do you think?
The Volume Tells All
Just would like your take on
. The chart looks good here! What's your opinion?
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