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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Tommy Dorsey who wrote (8329)6/6/2000 9:02:00 PM
From: Gary Wisdom  Read Replies (2) of 9427
 
Tom, I have a question on a stock you've traded before.

It's HAXS (formerly PAMC). It's been shorted to hell and back over the last 4 months and seems to have finally found a bottom. It's moving up with Healtheon and the sector and the buying seems very powerful at this point. It's still being heavily shorted (by the "fight to the death" shorts) but it's been up 6 of the last 7 days on good volume. There was huge block selling one day last week telling me the last major player capitulated.

It broke the 13 day ema for the first time in 4 months last week (broke above it that is) and hasn't gone back below it since. The 50 day ema is $8 1/4 and is slowly approaching it. It's broken the downtrend line and formed a beautiful cup and handle on the hourly chart before breaking over $6.

I don't know how to read your P&F stuff. Can you give me a read whether it's breaking out on your P&F basis, and if not, what would be a breakout?

Thanks.
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