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Pastimes : ASK Vendit Off Topic Questions
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To: horsegirl48 who wrote (18680)2/1/2001 2:23:02 PM
From: Walkingshadow  Read Replies (1) of 19374
 
HG,

As of now (2:16pm EST) PWAV has equilibrated with all its moving averages going towards the close. Usually what happens under these circumstances is the stock breaks one way or the other, but you can't tell which way until it starts moving. If the break occurs very late in the session, the chances are there will not be profit taking at the close. But if it occurs earlier (like around 2:00 or 2:30 or so) the chances increase that the momentum boys will run it hard, then take their profits a half hour or so before the close.

askresearch.com

So, as of now, I would not enter. It has not made its break, and so you do not yet know which way they will take it. Since it has not failed intraday support, the odds are that it will break to the upside, but I would not anticipate this by buying now.

If it makes a very late break to the upside, I would buy and hold overnight. If it breaks to the downside very late, I would either short it or wait till tomorrow.

JMVHO,

WS
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