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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Chris who wrote (22827)4/16/2000 9:15:00 PM
From: Magnatizer  Read Replies (1) of 42787
 
Chris

I was looking at a few points of interest.

1. Magnet wise the CRB target is 230 area. No time frame associated with this target but I feel it is a "by year end" target based on the CRBs price action over the past 15 months. A base followed by a nice uptrend. Also magnets show good support in the 205-209 area.

2. A uptrend support line going back to July 99 was broken and 2 weeks back and recovered Thurday. Fridays close was below it. I entered the trade off the 60 min chart, buying on a test of the 20 ema. If this support fails....

3. I have a tight stop in place and if taken out I expect to see a third wave down (daily chart) where I will look for a reentry to the long side in the 205 area.

Thanks for the look. I see your last weekly sell really took it to the CRB. I will certainly keep an open mind on going long... ;-)

ht
Mag
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