Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 689.52

-0.3%

Jan 7 4:00 PM EST

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To: Ken Adams who wrote (3116)	2/18/1999 9:03:00 PM
From: Ken Adams	of 39683

All, Here I am trying to beat a dead horse, maybe. TC and I have been in and out of PCMS recently. I just wanted to point out that this stock is now in an area of a "perfect" 50% retracement. I wish I could display my WOW chart which shows the retracement and several Gann angles. Many of these come into play here. I'm also encouraged that OBV remains pretty strong, in spite of all the recent weakness. Also, stochastic is turning up from very low levels. My plan, once again, is to place a buy stop just one tick above today's high, or 6-15/16. If this sucker reverses here, it could be a nice move. I've made some good money playing these 50% reversals, so if this one plays out, it could be good. Exercise your own DD here. Ken

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