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Non-Tech : FITB (Fifth Third Bancorp)
FITB 41.62-0.8%Oct 31 9:30 AM EST
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To: Ron Kory who wrote (47)8/15/1997 1:33:00 PM
From: Ross   of 68
 
Hello Ron!

I have enjoyed your posts regarding PTEK. You either have great
information or have the 'amazing' ability to really understand these
companies!! Thank for your input..

This is a quickie chart. Hopefully this will help with my
explanation.

teleport.com
(for others reading this post. My chart could disappear in a few
days. I am very sorry if this has been a inconvenience.)

I have been trading PTEK and it hit resistance around $30.00 (EW3). Our
software projected this and it turned out to be very accurate. My time
frame for PTEK is very short term, so on a daily basis, this is another
5 wave move up and this is EW4 (the correction from $30.00 on 8/8).
If PTEK does not close below 26 (a .62 retracement) then this will be
another mini 5 wave up and $31.00 will look good..

On Monday my software has a "bias reversal day" (when I project forward)
these are "sometimes" very timely and with the pullback in the area
of "normal", so far, this 'could be' the last day of this correction.

I know my fib. retracements are not something you trade on but I do find
once these (generally) are violated then I get into the gray area of
double bottoms and even further declines.. I was looking for $20.00
at one time for PTEK and this still is possible.

Today will be interesting and will reanalyze over the weekend.

Ross
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