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

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To: Arthur Radley who wrote (33837)	10/23/2000 12:45:42 AM
From: UnBelievable	Read Replies (1) of 42787

I am not familiar with these stocks so the following is based solely on a review of the charts. MSS appears to be at resistance at 43 (high for the last two days and the high from 7/6. It should get support from the 13 and 40 day SMA. If the earning release and split gives it some momentum it would seem to have a good shot at prior high from 10/2 of about 48. The low volume since the higher volume in the selloff last week is a little bit troubling. I would be inclined to think about a stop loss at about 40.50 to 41. I would also consider taking profits if it appears to be stalling at or about 48. INKP also appears to have closed at resistance on Friday. In this case a support trend line drawn from the lows of 6/30 and 9/20. This line was breached on 10/9 and when it did not get above it on 10/10 dropped to the 200 day SMA. It now sitting on support of the 13 and 50 day SMA and appears ready to try to get above that line, previously support, now resistance. Again I would be inclined to consider a stop loss at this support, about 8.25 and see what happens. Once it got above the support t/l I would follow it as it attempts to take out the previous high and consider taking profits if it appears to falter. I have had the opportunity to drink the "cleansing cocktail" although it seemed more like a gallon than a quart. The pill must be a lot better - although the cleansing part itself left a lot to be desired <gg>. I think the overall activity in the market is going to play a significant role in the price movement of most stocks. Regardless of the ultimate market direction I expect that recent volatility is going to be with us for a while and make everyone's trading experience "interesting". Best of luck. You should also be aware that there have been times when what I think might happen, doesn't; Lots of times. <gg>

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