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Microcap & Penny Stocks : fhtv Fisher Television Corp

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To: BigTex who wrote (303)10/14/1999 9:27:00 PM
From: Patrick Smith  Read Replies (2) of 641
 
BigTex.....

Whats this?......a trader that doesn't chart? :-)

I'll agree with most of what you said....however, there are two things that concern me. It ran too fast and pulled back to hard. That's usually an indication of some manipulation (day traders in this case). But the thing that kills me.....you guys call a base on where ever it closed that day. It takes a while for a base to form and one day doesn't do it for me.
The thing to look for is the uptrend line....if price stays above it your in good shape. Personally....I'll take a slow uptrend over a base formation anytime. Furthermore, your analysis of price is fairly accurate.....with a normal run-up....I'm not so sure this was normal. Now that's not to say this pup won't continue to go up....only one needs to keep a close eye on the chart.
So for now....I'll stick to my chart and watch the trend lines along with the volume.

(I'm stepping down from my soap box now...)

Man...I've seen it all...a trader that doesn't chart...jeeezzz...what's the world coming too.

P.S. For a guy that doesn't chart.. you understand more than a lot of people who claim to chart. ;-)
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