Thanks RTS. I really am not sure which way we are going to ultimately break. I am watching SMH to help me there. If it loses the uptrend, then down, and if it breaks out at 35 then up. I am biased down now because of the bullish percent index.
I thought we would ultimately break over 35 before topping, but will have to wait and see there.
We are pretty oversold on the daily, so I am hoping for another lower low to pick up a few shares and get a little rally. The next time we're overbought on the daily, though, could end up being a heck of a sell signal. I guess we'll have to wait.
BTW, I saw your discussion with Gottfried on the 200 wk. ma. IMO, m.a.'s are just lines. They are useful if they can stay away from the fray, and one can make money using them if they are consistent with the application. But, as support and resistance, I think the only way they are useful is if a bunch of traders react to them.
And this is from a guy that uses ema's every day to trade. :^))
Just my $0.02. Since i can't post on SI.
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