Set the Controls For The Heart of the SUN Message Board

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Strategies & Market Trends : Set the Controls For The Heart of the SUN

IQ 2.020

-1.2%

Jan 14 3:59 PM EST

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To: Crossy who wrote (278)	5/28/1997
From: Doug R	of 1156

Crossy, I'd like to compare notes here. RWIN is on countdown day 11. That day was a piercing line, a bullish candle pattern. 2 days later we see a harami. On that day there was a 500,000 share block crossed at 25 on a 1/8 uptick. Since the high was 25 1/8 that was most likely a large purchase. Today, Tuesday, closed higher than the close 4 days ago. Candlesticks, a large buy and today's close would indicate that RWIN is a good candidate for a preemptive buy. On a further note, a look at the 13 day RSI shows convergence has developed from 4/14 to 5/19. It's value moved from 22 at a bottom to 32 at a bottom at closing prices of 23 5/8 then 23 3/8. The 13 day RSI is currently at 44 and rising. The RSI would need to be moving up through 50 for a more timely buy based on the stock's recent history with this indicator. Short term stochastics read bullish and could very likely turn the intermediate term stochastics around very soon. Other indicators point to a relatively slow rolling move up as the most probable reaction to this sequential. The sequential on AZO has been cancelled during the countdown, the price reached 26 which is higher than where the setup began. CHK is on countdown day 12. I can't see any bullish candle implications but but I'm still new at candlesticks. The 13 day RSI shows that the stock goes up when the RSI is going up from a value of 40. There is RSI convergence as the value at lows, when the price was 15, moved from 24 to 40. The value is currently at 40 but headed slightly down. Any improvement in the stock would be positive. CHK does not look like a candidate for a preemptive buy. You are probably asleep now in Austria and I'll be asleep when you wake up but comments you have are appreciated Crossy. Any other input is welcome also. Claud? Instock? Anyone? Doug R

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