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Strategies & Market Trends : Steve's Channelling Thread

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To: Logain Ablar who wrote (4672)	8/25/2000 3:11:39 PM
From: GTC Trader	Read Replies (3) of 30051

<< CMRC is trying to break out here, lets see if the shorts can keep it back. >> Tim, I was using the channel from 48 to 52 for the breakout. Immediate target, of course, would be 56, but the climb from 40 to 55 could be repeated for my 15 points. Do you see 55 as the breakout point? Is your target 65 +/- 5 points? If so, then what do you think of selling if the stock closes strongly (~54) in hopes of getting back in cheaper? A strong close on Friday might indicate a gap on Monday? I am in at 50 7/16, so I would not mind locking in a 7% profit, unless the odds seem strong that 55 will be taken out on Monday. I am just trying to learn and make some profits at the same time. I appreciate any input. Comments? TIA - HB P.S. HAUP ask just went to 7 3/4, then dropped to 7 11/16. High for day still at 7 5/8, with bid holding at 7 9/16. Does this puppy want to run? Volume not too exciting. It needs some gas.

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