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Strategies & Market Trends : Three Amigos Stock Thread

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To: Ditchdigger who wrote (27827)	1/10/2002 9:09:08 PM
From: Ken W	Read Replies (1) of 29382

Ditch BLTI chart: A gap fill just over 5.25 to 5.27....however! On a weekly chart the stock has formed a reverse head and shoulders with the right shoulder in a downward slope. I generally don't pay too much attention to cups, shoulders, islands etc. but in this case my regular indicators are confiming the breakdown of the stock. The shorter term 50dMA has been broken at 5.50 and you'll notice that the stock keeps hitting its head at that point with each attempt ending lower and lower. On the very short term chart 30min. The 50 period has just crossed under the 200, also signaling a downward move. That cross is confirmed by a downturn in stoch's and MACD.. (the longer term stoch's and macd have moved to a negative attitude. Something is wrong in San Diego Ditch. With the recent pre announce of rev's, the stock should be going up, not down. They are going to have to come up with something pretty fast or it is in danger of testing the 50weekMA at 4.00. EDIT: The weekly chart: siliconinvestor.com Ken

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