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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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To: Gush who wrote (871)	6/21/2005 9:05:35 AM
From: Walkingshadow	Read Replies (1) of 4814

Hi Gush, Sorry it took so long to get to this. Wish I had seen it last week! SLM has a gorgeous chart: stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60]&pref=G This chart shows SLM has been in a long-term uptrend. After a sharp rally, it has spent most of this year consolidating and trading sideways into support. It finally ran into very solid support from the ascending 200 sma and that coincided with support from the 50 sma. The BBs had gotten very contracted. 139.142.147.218 SLM broke out of that trading range to the upside, pushing the upper BB rail open. I think SLM will continue to rally in the medium and long term, and technically has been getting stronger lately. I think it is likely that in the short term SLM also has more upside. This would be a good stock to take a long position and forget about for a while. I think it will do very well over the next several weeks and months. I would not short SLM. T T

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