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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (2932)	12/22/2004 11:05:23 PM
From: Walkingshadow	Read Replies (1) of 8752

Reid, what do you make of this one? PRPX: 139.142.147.218 You might at first think today's candle represents some short covering, but the stock has only 14,000 shares total held short out of a float of 4.2 million. So short interest is virtually zero. Look at the MACD. I think this stock will move, but not until the signal line is around zero. If you look at the weekly chart, 139.142.147.218 it seems to me the 3 candles at the beginning of November are volume heavy and will provide significant support. This should significantly attenuate the downside risk here. The only thing I don't like is the lack of short interest, but otherwise, I'd say this one bears watching for a possible trade in a week or so. My read is that the move today is a head fake, despite the enormous volume surge, and PRPX will subside back into the middle of the narrow trading range it has been in for the last month (which would also be the middle of the BBs). But when PRPX moves, it could be a very powerful rally into blue-sky territory. What do you think? T

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