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Politics : High Tolerance Plasticity
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To: Peter van Steennis who wrote (21556)9/17/2004 1:21:40 PM
From: kodiak_bull  Read Replies (1) of 23153
 
Peter,

I haven't seen Dabum around today (it could be a hard rain where he is), so let me just chip in on RRI: I noted a while ago that it had entered a channel, the 8.80 to 9.80 channel (actually 9.90 or even $10.00 would work as well as the upper range) and it is still there.

The daily chart is not all that hopeful, as money flows indicate lack of compelling (bullish) interest in this name. In terms of a pattern, it is right at the right shoulder of a failing head & shoulders pattern; another way to look at its last two months is a rising wedge reversal (in a downtrend, the wedge or pennant seems to rise, suckering people in, just in time for it to reverse back down and continue on its merry downward way).

In my world, I have to think there are better candidates which will give clearer trading (trending) signals than this one right now.

Kb
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