Sunday, November 07, 2004 12:02:25 PM
SBL the long...& short of it
even though must ihubbers seem to gravitate toward pennies or low priced issues for quick profits, higher priced issues can also be quite attractive.
The weekly of SBL demonstrates fine strength on a longer term stochastic oscillator. The chart has a nice solid feel to it imo, particularly because weekly volume has been increasing in an orderly fashion since the end of September. As long as the major averages continue to be healthy I expect Symbol will be too. It's also noteworthy that the sp bucked the 3wk downdraft in the SPX. This suggests that SBL could show strength even if the general market gets choppy.
the daily exhibits a pretty nicely stacked set of technicals too. In particular, I like seeing that all price retracements never seem to get to oversold on the 432s. This tells me that buying pressure overtakes profittakers quickly. Almost all of the higher volume days, particularly those accompanying turnups in the oscillator are green, and I believe the current uptrend will continue.
I will be looking at some of the SEC filings before committing funds. It is possible that institutional buying after the recent, evidently positive earnings release, will abate.
BTW, i sold PFE and rotated to PLMD in my long term account. Coming changes in Medicare, the increasing focus on disease management, and the company's recent resolution of a Dept. of Justice investigation into Medicare practices all bode well for the future. The chart has been uptrending since mid '01. And I like Wilford Brimley sitting on horseback telling diabetes patients how easy it is to get their supplies "and leave the billing collection to them" from Liberty Medical which is a big subsidiary of PLMD :)
even though must ihubbers seem to gravitate toward pennies or low priced issues for quick profits, higher priced issues can also be quite attractive.
The weekly of SBL demonstrates fine strength on a longer term stochastic oscillator. The chart has a nice solid feel to it imo, particularly because weekly volume has been increasing in an orderly fashion since the end of September. As long as the major averages continue to be healthy I expect Symbol will be too. It's also noteworthy that the sp bucked the 3wk downdraft in the SPX. This suggests that SBL could show strength even if the general market gets choppy.
the daily exhibits a pretty nicely stacked set of technicals too. In particular, I like seeing that all price retracements never seem to get to oversold on the 432s. This tells me that buying pressure overtakes profittakers quickly. Almost all of the higher volume days, particularly those accompanying turnups in the oscillator are green, and I believe the current uptrend will continue.
I will be looking at some of the SEC filings before committing funds. It is possible that institutional buying after the recent, evidently positive earnings release, will abate.
BTW, i sold PFE and rotated to PLMD in my long term account. Coming changes in Medicare, the increasing focus on disease management, and the company's recent resolution of a Dept. of Justice investigation into Medicare practices all bode well for the future. The chart has been uptrending since mid '01. And I like Wilford Brimley sitting on horseback telling diabetes patients how easy it is to get their supplies "and leave the billing collection to them" from Liberty Medical which is a big subsidiary of PLMD :)
TRADING: "More Signal...less Noise"
LIVING: "One World, One Family, Warm Heart" Dalai Lama
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