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Strategies & Market Trends : Steve's Channelling Thread

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To: mishedlo who wrote (3849)	7/30/2000 9:18:18 PM
From: Zeev Hed	Read Replies (2) of 30051

Misheldo, JXM and Tim are our experts in the art of reading PnF. Frankly, you got to be careful not to use just one technical tool. You want to have a lot of "turnips" and try and see convergence of parameters to indicate a trend continuation (the trend is you friend) and divergence between various parameter to indicate a reversal. Right now all the turnips are "negative" on RMBS, one of the oscilators has a short term blip up, but the OBV is still trending down, depsite the spirited rally Friday. The fact that we actually painted a doji indicates some indecision, but in view of the fact that the rally was instigated by a license announcement, I would say the stock goes under $65 rapidly before it finds a bottom. Others observers could say, "in view of the market general condition, RMBS behaved greatly" (not I). Zeev Zeev

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