TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Jeffrey Beckman who wrote (24669)	8/3/2001 9:26:48 AM
From: NW_Trader	Read Replies (1) of 59879

Hi Jeffrey, Willing to wait to see if the 3.75 - 4 level holds on STEM. I wouldn't discount a trip under 4 if there is much made of the cloning issue. As Worden's BOP is a proprietary indicator whose mechanics are "black box", I don't care much for relying on it. I would note however that if it is indicative of future stock price action (and not a lagging indicator) then a short term (5 period) linear regression line on BOP is starting to fall off, as is the indicator itself. My own short term trader indicators (which I do understand) started to fall off on 7-23 and were confirmed 2 days later. FWIW, a .618 fib retracement of the run that started the first part of May is about 4 and that retracement from the April low is about 3.69. This area has also been prior support and resistance and an area of volume as the stock move thru it going back to '95. On a negative note, yesterday STEM dropped to the long tern bottom trend line that started in May and today traded below it. If this area doesn't hold, the next stop could be 2.75, so set your stop loss. Peace and Justice --- Patrick

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