Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Kid Rock who wrote (15191)	1/19/2000 6:01:00 PM
From: arno	Read Replies (1) of 63513

Kid Rock, Let's see here. MCRE broke a double top on 1/11/00 at 10.5 and has continued upward. It has given 3 straight buy signals, but it does look a bit over extended. The RS (relative strength) as compared to the DOW, is in a column of O's and on a sell signal. Not good. However, it is close to reversing up into a column of X's. Good, if it does. Knowing nothing about this stock other than looking at the chart, I would not enter at this time, but wait for a pullback. Setting a stop on this one is tricky. A three box reversal would be @ 12.5, or you could go to the last double top @ 10, or at the Bullish Support Line @ 8 or so. It's entirely up to your tolerance of pain if it decides to go south on you, and whether you're a short term trader or long term investor. Hope this helps, arno

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