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Gold/Mining/Energy : Nuvo Research Inc
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To: Joe Krupa who wrote (6046)12/4/2000 6:00:51 PM
From: David Graham  Read Replies (1) of 14101
 
Although I use TA when making buy and sell decisions, I'm a bigger fan of MACD and trendlines.

Having said all that, I have friend who still draws his charts on log paper with a pencil, and he generally makes a bundle of cash. Now he's not in to these new-fangled indicators (his phrase, not mine, I am too young to say that). He would look at this chart and say it's doubled in less than two weeks, the volume on breakout day hasn't been eclipsed, the uptrend is very steep (unsustainably so) and it's looking tired. I would add that we are running into the 200-day MA.

Do I have the courage to sell here? I don't know, but they are safer times to buy. I think the stock will need to have some news before it stays above the 200-day line.

FWIW

David
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