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PowerPole

11/14/05 7:27 PM

#3457 RE: Sideem #3435

Sideem...Accumulation numbers on the charts...

15Minute:
A/D line (light blue) didn't do too badly on this chart...CCI is very low...The RSI (dark green) doesn't usually go under 30 for long, and today it hit 20 just before the close...ADX shows the downtrend strengthening...Stochastics (purple) show very Oversold conditions...Volume increased in the afternoon as the pps declined.


Hourly:
A/D line took a hit until 11am and then rebounded to new highs, and pulled back again...The CCI, RSI, and Stochastics are all about as low as they can go-signaling Oversold...The DMI+ crossed down through the DMI- which is bearish...Volume the last hour was 6X above average.


Daily:
The pps closed at the lower Bollinger Band today, so maybe it's very near to finding the bottom...A/D line took a big downtick on this chart...CCI and RSI are abnormally low-signaling Oversold...ADX downticked, and the DMI+ crossed below the DMI- here too...Stochastics have been Oversold for 7 days now...MACD still downticking...Volume today was 6MM above average...


I'm not going to lie to you all here...This doesn't look very good overall...The size of the red daily candlestick closing near the low, and the hourly candlestick the last hour of today suggests more downside...

I have rarely seen the Stochastics this Oversold for so many days, and the downtrend still manages to continue...The RSI, and CCI are also unusually low-that usually signals a reversal is coming...

It's obvious when the descending triangle broke support at .025 today, a lot of weak limbs got shaken from the tree...Remember, for every seller today, someone else thought it was a good buy...A lot of the sells could have been from stop loss limit orders getting picked up, that's why a couple of posters recommended not using them...

Some posters may be correct that at the 200DMA (.015) it may find a support level...That's really NOT that far below today's close, so there's still HOPE here...I'll go out on a limb and call .015 the reversal point...