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Strategies & Market Trends : The picks
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To: steve susko who wrote (1518)1/10/1997 6:01:00 PM
From: Trader X   of 6124
 
RE: Steve and ZE calls.

Based purely on TA of the chart. 12 was the major support area the stock fell through on it's way to 10 recently. The stock has since fought it's way back to 12 and failed to penitrate on a close. What this is showing, is that when the stock comes near 12, investors who bought at higher than 12 are unleashing their holdings. They are cutting their losses at this point. It may take a while for this overhead to play itself out, considering the float on this stock. I would wait for ZE to close above 12 on heavy volume then load up on 13 calls, buy the stock, or sell $12 puts.

-Kevin
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