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Strategies & Market Trends : Technical Analysis- Indicators & Systems

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To: Gale A. Thompson who wrote (570)	3/30/1997 12:06:00 PM
From: gonzongo	of 3325

Gale, Jerry, Steve, Richard: I have been looking at CPQ from a low in mid July of 40.5, although the March 96 low could also be a starting point. Using the July low- I get fib retracements of 70 for 38% , 64 for 50% and 58 for 62%. These correspond closely to the support levels of 72 and 66 outlined on Jerry's homepage. The downtrending channels- make 5/23/97 a decent point for the end of the run if the script is followed. And you can buy all the vowels from Vanna as well as whatever else you want. Now Chan is right than many indicators are up but they are turning up in a downtrending stock. Jerry's channels seem pretty tight for this stock. And so A short term indicator like stochrsi(8,5) can give you short term direction. For example this indicator hit 93.75 on 3/26 along with touching the $80 resistance point- perfect time to go short. Should pull back to other side of channel- maybe near 72 and then rock up again. yt andy If it breaks out as Jerry's chart implies- stop out above 80. Jerry- it appears that Richard just took your chart- CPQ close up and dated the arrival at 66. Seems about right.

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