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Technology Stocks : FORE Inc.

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To: Honor First who wrote (9849)	12/3/1998 12:34:00 PM
From: Ed Frye	of 12559

>>Ed - What are the possibilities for Fore? I did sell most at 17 1/8. Do you think that according to your Japanese candlestick method that there will be another chance in the low 16's or high 15's? GOLDEN RULE: Old Resistance = New Support (assuming we close up). Therefore, assuming we close above 17 1/2 today, which is required to confirm the resistance breakout, I would not expect a retracement to 15/16 in the near-term and 17 1/2 would become your best possible near term buy price, IMHO. Today's tall white candle, combined with the initial tall white "buyout" candle from a couple of weeks ago, yields the VERY bullish "3 Methods Rising" candle pattern. Everything in between has been within the range of the top half of the first tall white candle (the one that took us from 13 to 17 in one day), thus representing consolidation. The fact that we are breaking out of a major resistance level on heavy volume only underscores the bullish of today's move. MM picked up cheap stock yesterday by blowing out stops down to 15 3/8. Typical MM behaviour before a major rally, known as a shakeout. Next resistance is 20-21. If we break that I'll go out on a limb and predict a buyout is a done deal @~25. ed

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