Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Sam Armstrong who wrote (178)	7/25/1997 8:13:00 AM
From: SE	of 7396

Sam, Looked at the chart on PLNR this morning and it was ugly as I expected. However, I never expected RSI to be at 44 on a 10 day. I thought the action of the last couple of days would present a seriously oversold condition. However, only Williams %R shows seriously oversold. It appears to have gone up on as much volume as it came down. Not good. Also it is now in a support range of 9 to 10.5. Yes, a large range, but with the recent action, such a large range is warranted. After viewing the chart, I don't see to much positive to say. I would suspect that perhaps it will trade lower to sideways the next few days with 1/2 to 1 point swings common over the next couple. If you can get out on a period of strength (defined 3/4 to 1 point up) I would consider it. Might continue watching for day trade purposes if it can hold the 9 level. GO PACK GO! -Scott

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