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Politics : Idea Of The Day
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To: Al Serrao who wrote (8197)8/27/1997 12:45:00 AM
From: J.T.   of 50167
 
Al, WOW, NKE is testing almost an "octagonal support" level. First, on a one year chart, this must hold 52 1/2 on a close. You pull this up on a five year chart and draw a straight diagonal line at lower support levels and if this thing breaks 53 you are in trouble. Any way you cut it, this baby got lower to go (excuse my English). Good support shelf at 48 1/2 area if you are looking to buy or average down. But this is loser's game. Worst case scenario, 34 to 35 area in meltdown situation. Stay away... JT
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