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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	11/19/2006 9:44:34 PM
	of 6865

Hello Lakeoffice, good to see you back stockcharts.com I know you are extremely busy but if your like me when you finally stop to rest you cant help but look thru the market. good to see you back. Many of you know that Lakeoffice is the man behing John A. Logan college technical analysis program in Carterville Ill. And we are personel friends and live close to each other. Another one of Lakeoffices aquantance is Tammy Turner, author of many trading books. She is due to give a presentation at J.A.Logan college in the very near future. But from what I see on the long term chart above it is showing no signs of a stage three topping process and so should probably be considered in stage 2 until proven other wise. this gives bullish implications for the future longer term or at least till some signs show up proving other wise. Although her trading books deal with short term charts, everything is equal on the shorter term and longer term if it is like elliott wave and every other thing I have seen on charts. The chart pattern above is the history of AKAM and it shows a stock in a stage 2 advance that she describes in her book short term trading on page 57. I was just looking thru this book lately an thought I recognized the pattern. Jakers has mentioned the stages before and I suppose is the same stage numbering that I have labeled on the chart. Jakers add to this If you would like. As for the shorter term chart and the one that you should trade off of, I think it is late to consider entering this stock for anything other than a day trade. the chart is below stockcharts.com As long as the price stays over the 50dma everything is alright. It has used it for quite a while. The Large MACD spike is usual for a top. The current action appears to be corrective and should lead to a breakout in one direction or the other, beware if it breaks down because the elliott labeling that I have given it may be correct and a retracement of at least 38% to 62% should be expected, There several gaps that are open in this retracement range. It bothers me that the people that work at AKAM arent exactly excited about there company. form4oracle.com Some detail thoughts for a good friend, others here may have different views and as always they are welcome.

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