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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: JOHN W. who wrote (2041)10/3/1997 11:30:00 PM
From: JOHN W.   of 6136
 
Subject: Charting II
Date: Fri, Oct 3, 1997 11:27 EDT
From: MillJacker
Message-id: <19971003152701.LAA23415@ladder01.news.aol.com>

As we hoped, the golfball fell into the hole -- and we longs didn't.

The overnight gap is not one of the classic gap formations. I call it a "back-from-the-brink" gap. It clearly labels yesterday's penetration of the basic trendline a false penetration. My hunch is that, after the close, wiser heads drifting back from the holiday phoned their assistants and bade them "wake up and understand the facts."

Although AGPH action rarely correlates with the indices, today's jobs data and 20-point NASDAQ runup aren't hurting.

The stage is being set.

Cheers,
John R
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