Logica

shelman

1
439 1
Looking at the chart LOG is screaming out for me to buy but in view of the last two weeks my knees are shaky.
Monday am is going to be very difficult...anyone else in the same predicament?
Steve
 

Riz

Experienced member
1,266 5
It is owrth watching..

Hi Steve,

I also find LOG well worth watching..great upward potential once the recovery starts..and even before that good for intra day trades...will have better ideas come next week of course...

rizgar
 

ChartMan

Legendary member
5,580 46
I still see more downside to LOG. reasonable support @ 1331 and next stop down @ 1243 ish. The high tail on Friday's candle suggested an attept to raise the price, but the close failed to reach the previous day's close by 2p, suggesting negative sentiment.
Wait and see.Nobody needs to try and catch the bottom on any tech stocks- they'll fly when they're good and ready so don't get burnt!
 

Uncle

Established member
671 2
I'm with Martin on this one.........this stock is too risky to try to catch the bottom..........MM's will play with this one to lure you into false moves. There is enough movement in the price for profits once it makes reversal.

[Edited by Uncle on 25-02-2001 at 02:47 PM]
 
I notice that TCY and RBI have both broken out to to the downside recently. As I recall these were among the first to drop way back in october when the last big draw down took place.

I need to see some positive confirmation before buying anything in the software sector.

No financial advice intended.
Darth.
 

shelman

1
439 1
OK guys, i agree, caution must come first. If LOG does fall further on Monday i see 1200 as a very important psychological level and any subsequent bounce could be quick and substantial.
John's point on the MMs is dead right...this stock as been subjected to some of the biggest fluctuations, over the years, without any real reason...good news, bad news, anything that can be pounced on by the mischief makers.
Steve
 

cookie

Active member
248 1
MM's encouraged good trading today, don't mind them when they are on my side. Bought at 1354 sold at 1415. Thankyou Logica - didnt fancy holding overnight - a profit in the bank and maybe we go again tommorrow.

Fancy a nibble at Autonomy too.


Good Luck



Cookie
 

Riz

Experienced member
1,266 5
bounced as expected...

Bounced as expected..got in at 1364 (sounds like cookie moved faster..probably used the monkey :) ) still holding for a possible mark up in the morning...

rizgar
 

Riz

Experienced member
1,266 5
hehe...

not me mate..you know I am usually the last to bank it...

good luck to you too

rizgar
 

shelman

1
439 1
darth...could you elaborate please ?
I'm sure i'm not alone in not having a clue what you're talking about.
Moving averages and screaming charts are all i understand about TA.
Thanks
Steve
 
Sorry for not elaborating in my previous note.

A morning star pattern is a 3 day candlestick which consists of a down day, a gap down with a small difference between open and close and then an up day that significantly penetrates the body of the first day.

Apologies of that is not pedagogically correct! But essentially this is a bottom reversal pattern similar those that you will be familiar with from traditional charts.

Morning star patterns are quite rare and especially significant when they occur around support lines.

Some similar evening star (top reversal) patterns recently showed for bhm and pon and prooved to be quite portentious.
 

cookie

Active member
248 1
Gawd blimey Darf' in english me old mate.

Please be very careful with your chart felt decisions guys on anything TMT and especially telecoms related. Technical Analysis takes no account of the current markets fundamental influences and negative sentiment.

A chartists view on Psion this morning would have been futile.

Re: LOG - Daytrade only, too risky to hold overnight. Hope you got out on the right side Riz.

Good Luck


Cookie
 

Riz

Experienced member
1,266 5
quite right...

Quite right Cookie...As I keep saying this market is only good for intra hour/day trading...got out all right for +41 ..back in and out today for -22 this time...I traded 12 shares today...I was in good profit till early afternoon when I had to go due to an emergency...back 2 hours later finding profit gone all together -22 loss instead...should have closed them all before going out...but as I said it was emergency no time..still managed all right...so long as we don't hold any techs overnight in case of wolves hunting us around.. :)

rizgar
 
Thread starter Similar threads Forum Replies Date
M Stocks & ETFs 6
C Technical Analysis 0
S Stocks & ETFs 32
S Stocks & ETFs 13

Similar threads


AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock