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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: The Perfect Hedge who wrote (2835)7/24/1997 1:46:00 AM
From: Robert Graham   of 42787
 
What is meant by "test marketing Hardees"? Now, I do realize the price is overextended right now. However, there is a small portion of the shares outstanding that is actually being traded once you figure in both insider and institutional holdings. Also, do not underestimate the value of momentum in speculative plays on stocks with established momentum from rather "exhuberant" investor participation like this, particularily in this market.

I see the "bounce" did occur and the stock is moving up. Momentum is in an upcycle. Volume did validate the "bounce", which in turn validated the upside breakout. Also, overall volume has been increasing on the run up. OBV and Accum/Dist are still upsloping and looking good.

A more risk-tolerant investor would jump in at this point. A more conservative investor would wait for the breakout from its previous high on good volume.

Ultimately disapline and a focus on your investment objectives is what is important here. I suggest not letting the "exhuberant" investors in this stock carry you along like a rip tide against your better judgement and tolerance for risk. The rip tide may turn into an undertow and pull you under before you realize it.

Bob Graham
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