Bombay (BBA): Time for a run up? Message Board

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Non-Tech : Bombay (BBA): Time for a run up?

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To: Arnie Doolittle who wrote (15)	7/28/1997 4:17:00 PM
From: Harry W. Lowe	of 202

Arnie, Which trend are we talking about? The short term momentum (MM) indicator gave a sell signal. The intermediate MM indicator went from positive to neutral. Stochastics are in a sell configuration. The positive factors are, OBV from neutral to positive. Volume does "dry up" when the trend is down, but that seems be characteristic with the current 'flag formation'. The flag is in the third of an exspected 5 wave pattern. If the price can get above $5.625 look for a re-test of $6.00/sh. If the price breaks below $5.25 and then $5.00, then look for a move to $4.75. Flags are indecision patterns, which can break either way. If the fundamentals are bullish (as investors perceive them to be), then the subsequent buying on balance should force an upside breakout. However, the questions are, "does the investor have all of the fundamentals to correctly make the right decisions?"; and,"what affect does the market maker have on this issue?". Time will tell, and good luck on your investment. Harry

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