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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (66014)	2/12/2003 9:06:44 AM
From: bcrafty	Read Replies (2) of 209892

bobcor, all that FA may be true but I can't say I see them as a fade technically right now from Shack's chart. stockcharts.com[h,a]daclyiay[dc][pb5!c8][vc60][iLc20!Ll14]&pref=G No major trendlines have been violated and, quite the opposite, it looks like it went through it's UT on January 30. Surely the MACD shows overbought, but look at the positive money flow and the ADX still diverging. It might be a short one of these days, but not right now. A short today at say 6.10 with a good money management 5% stop of .31 would get you blown out at 6.41 - a price it could very well reach. At the very least I'd watch for a 5 sma, 8ema crossover on the daily for even a short term fade, which to me would be more of a sign of a decline than the current consolidation it is in.

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