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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: GTC Trader who wrote (19786)1/1/2001 12:34:18 PM
From: TATRADER  Read Replies (1) of 59879
 
on CSCO, you view the beginning of the drop at 55 to the low of 35, you take the difference(20) and multiply by 40% and you get 43.....Retracement should be to 43.00 area...If you look at the shorter term pattern you will note the stock, found resistance at 42.50....So I would look to short CSCO again during the January rally, looking for a loss of momentum in the 42-43 area....As our friend Richard Mazzarelli, stated, place a tight buy stop once you short in the target area....
Happy, remember, the neckline sits at 50...Pattern is 80 by 50, giving downside to 20.00 a share...That is my 12 month target on CSCO and where my wife and I plan to buy it, should it get there...Sometimes in the euphoria, they may run it right past our first short area at 43.00, and if they do, I would definitely look to short CSCO near 50.00....
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