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Technology Stocks : Winstar Comm. (WCII)
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To: K-MAN who wrote (2268)9/30/1997 10:17:00 PM
From: TATRADER   of 12468
 
K-man, believe it or not I bought this stock for my IRA.....If you want to get my long-term objective of 30, measure the lower bottom, in the double bottom formation to the neckline at 19.00....Add that amount to 19.00, and you see how I get the figure...For the short-term
target, you measure the rectangle pattern which was from 16-19...You get 3.00...Multiply by 1.62...Add to 19.00 and you get first objective of 23.86.....Now the pros may try to move WCII under 19.00 to get people nervous tomorrow,(they did this recently with IPEC, where we have a Head and Shoulders Bottom with neckline at 35.00) but I will be sitting tight...In my book this was a legitimate breakout, and i will wait until they are done shaking out shares, and take this stock into the 20's where it belongs.......I am a position trader, and do not look at fundamentals...I may trade this one, when it gets to my first price objective....Mark
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