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Strategies & Market Trends : Point and Figure Charting

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To: The Phoenix who wrote (5311)	8/3/1998 7:58:00 PM
From: Jorj X Mckie	of 34820

Gary, Welcome to the darkside my brother. Entering a position at a triple bottom (where MRVC is now) isn't necessarily a bad thing. It is definitely sitting on support right now, so it may be easier for it to move up, than down. However, there are other indicators that say that MRVC is very risky right now (trending down and below bearish resistance line). So it is just one of those Caveat Emptor situations and clearly one that I would jump on if I was inclined to play MRVC. However, you should be prepared to jump out of MRVC if it hits $19.00 or below. Meanwhile, I bought more ASND calls this morning when it dropped below $43. Today's late action reversed ASND into a column of Xs (positive). And I think that as the rest of world figures out that ASND is entering into a very strategic acquisition we will see another jump tomorrow. CSCO's activity not following its normal pattern. Believe it or not it reversed into a column of Os today (negative), even though it went up fractionally. It will interesting to see if CSCO has a sell off after earnings as usual or if it continues to break its pattern by holding its value. Signed "The Embodiment of the TDT"

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