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To: chic_hearne who wrote (14883)8/30/2000 10:08:51 PM
From: Monty Lenard  Read Replies (1) of 436258
 
"The 125 resistance I spoke of held it at the top"

Well I didn't say how long it would hold. :-))

It did as I expected but did not go as low as I expected(see excerp from my PM to you on 8/25 below). It drew an Inverted Hammer yesterday on the 50 DSMA but I honestly expected it to go to the 28 DSMA at the 111 to 113 I mentioned before reversing so of course I missed it.

"30 and 60 minute chart is topping. I think the 125 will reverse the stock some if not the 124 3/4 we saw today. When and if it pulls back I am going to look for a buying opportunity and get me some and play the cc's.

MOST of the time....not always...but most of the time...when a stock first breaks back above the 200 like this one did it takes people a while to get used to it being back up there so they sell it off a bit. If it breaks back below the 200 it should give a nice opportunity for me to get in. I will be looking for it to give that signal at 111 to 113. Now that is planing a long way ahead but that is what I will look for until it tells me differently. May not pull back that far but I think I will be close."

Now where does it go now?

It is barely above the resistance at 125. It actually went to 127 3/8 and my next resistance is 128. If it pulls back and holds 125 tomorrow (closing Price) it has a possibility of going through the 128 on to 131 1/4.

The stock is right on the fringe of being overbought from a technical standpoint but hell when one gets running hard like this one the sky is the limit. :-))

Monty
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