A Novel Academy: 56ers in Annapolis Message Board

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Pastimes : A Novel Academy: 56ers in Annapolis

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To: Carolyn S. who wrote (2352)	12/6/1997 11:56:00 PM
From: Doug R	Read Replies (1) of 2403

Carolyn, The only thing that I can see is in the 2 day RSI. Just before the correction the 2 day RSI was in the middle of a sharp move. As the correction was happenning the RSI made a higher low as the stock moved down a bit. This is convergence and tells that a move up should start. The RSI then shows a very strong move starting in the last week of Oct. extending to 11/10 as the price recovered. This was right on the heels of the correction. After a bunch of profit taking and then what looks like panic selling, the 2 day RSI hit zero on 12/3. That seems to me to be unthinkably oversold considering what had happened just a month before. The MM's must have really worked hard to get it to do that while they scooped up all kinds of cheap shares. Given what the 2 day RSI will behave like in the next 3 or 4 days while the stock continues, TDFX could go 4 more points. I can't say that anyone could have seen it being so drastic but when the 2 day RSI hit 0 after the earlier activity, it was likely to go up. The accumulation/distribution indicator hit uptrending support on Wed. and started up on Thu. Every other good move up also started from there. Doug R

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