MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: HairBall who wrote (33152)	11/11/1999 10:22:00 AM
From: Terry Whitman	Read Replies (2) of 99985

LG, A simple Chart read of AOL for the thread. I watch this stock fairly closely, as and indication of internet accumulation and distribution, since it is the premier internet stock in most fund mgrs. portfolios. I will try to be objective in my assessment. So here goes: The first thing that jumps out at me is that the OBV story is compelling. The lower trend of peaks (assuming we have seen the near term peak on tuesday) suggests a stock in distribution. The MACD suggests it is weakening slightly, but still in an uptrend. The RSI looks to be at or near a peak. The stochastics are in the overbought territory and falling slightly. A fall thru the 80 level would generate a sell signal. Still well under new highs. Support levels are back at the Oct.25-27 lows of 116. That said, the IIX.X is hitting new highs, so AOL may be suffering from rotation into newer hotter internet stocks. Regards, TW

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