Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 691.81

+0.6%

Jan 6 4:00 PM EST

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To: Atticus who wrote (2824)	1/28/1999 2:48:00 PM
From: Charles Kalb	Read Replies (1) of 39683

Hi Atticus.......My 2 cents on FORE FWIW. Just looked at FORE and my conclusion is that at 17ish it presents a good risk/reward ratio right now for a short term trade. FORE has been in a moderately rising channel since early October with no surprises. I used a standard error channel but also looked at a bunch of other indicators. Right now the stock is following along immediately above the lower error band. Unless fundamentals degrade short-term or broad market takes a tumble short-term I see no reason why FORE should break below the lower error band. The top of the error band is now at about 23 and the upper Bollinger band is at about 21.5; these are potential targets. Over the last five days including today the price is creeping slightly upwards on average and away from the lower Bollinger band which is still declining. This pattern often precedes a sudden move to the upside. In summary, I like FORE. In fact I just put a few chips down on Green. Charles

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