The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: ok1day who wrote (54699)	8/22/1999 11:09:00 AM
From: stan s.	Read Replies (2) of 90042

SBTK, bad qtr, it's being audited and has delayed announcement of June qtr results pending the audit. No wonder it's dropped from 28 to 5 or whatever. Would you feel comfortable holding this one overnight? I think that's is the key point. Yes it's trying to bottom, ala the engulfing pattern (which I like because of the psychology implied) and yes it has some early momentum buy signals but those signals are pretty unreliable in this kind of downtrend. This is a broken chart Ossnat...and possibly with very good reason. Can it recover?...yes it can. Will it?...I don't know. Is it predictable? absolutely not. Any decent rumors accounting for Friday? If not...caution. If you play it, watch the news and buy only when/if it's surging (surge point, 7.5 is fine) on high volume and dump it at the first sign of trouble and don't leave the room and keep your finger on the sell button until you at least see the 5 day SMA break over the 10 day etc which at best will take 1-3 days......and if you play with more than 10% trading money you're making an error IMO. Most likely scenario...is a little volatility and a long basing pattern before any significant recovery. That assumes that there is no bankruptcy or SEC action in the immediate future and I have no way of making that assessment. There are safer plays. Doesn't mean not to play...but cut your risk to an absolute minimum. The whole point of TA is to find situations where there is some degree of predictability. As always the best of luck. If I get a chance I'll put out another handful of picks later. These from last Sunday were safe when bought as a group...although as I mentioned I left them unmanaged through the week so the viability is somewhat obscured but not negated since they were up from the word go. techstocks.com Stan

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