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Strategies & Market Trends : The picks

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To: Andrew Vance who wrote (3720)	2/3/1997 5:41:00 PM
From: Trader X	of 6124

AV re ALYD................... andrew, I didn't get back from DC til after 2 eastern today, so i wasn't real sure what it was you had tried to do, altho I sort of get the gist from a couple of posts I read. As for your question, let me explain. whenever a stock drops below a primary support level, as 10 - 10-1/2 was for ALYD the past year, it's normal for it to have a sharp bounce back to that point. That may have been what happened to it today. I'd reserve judgement waiting to see if the stock can follow through on this move. My own opinion is that the 10-1/2 that was support will now turn into resistence. I'll let you figure out the rest. Kevin

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