For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
Rambus will only top out when the judge makes a decision regarding its legal case. Then it will probably fall ooff quite a bit since its valuation is so staggering.
ReplyDeleteYes I understand your point, but at least on the daily chart, RMBS is showing signs weakening and may be forming at least a short term top.
ReplyDelete. . . add another $1.75 to the top. Throw away your chart. You can not chart Rambus. You will do better following your horoscope.
ReplyDeleteTreowth
If you are looking for perfection in technical analysis, you are looking for the "holy grail" and will never find it... If I see a possible top in the making, I will continue to call it as I see it, but perfection is out of the question and not my goal... What I do is try to have a decent "batting average", and that is all.
ReplyDeleteTo Any Donkey:
ReplyDeleteWell, well, well... The RMBS possible top call was early yes, but still profitable at this point.