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Strategies & Market Trends : WELCOME TO THE CATHOUSE

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To: sjemmeri who wrote (1046)5/16/2002 4:58:27 PM
From: ivan solotaroff  Read Replies (1) of 1065
 
Steven,

Yes. That's a good signal, and the stock has a modest history
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with a successful signal on 4/11 (good for only 10%, but hey, in this market); that followed a weak signal two days prior that failed. That's generally not a good sign, but again, hey, these days.
My concern is that the stock is off because of accounting issues. When the good folks in Cat Heaven made up this scam, there were no ENEs or WCOMs. Mind you, I've got nothing against a good TA play in the face of dire FA (that's usually the case with cats), but the sight of all those ex-millionaires in Texas is a little spooky.
Good luck if you try it. I'd definitely advise following the tight stop rule: Two ticks below the previous low and you're outta there.

Ivan
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