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Biotech / Medical : Biosource International
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To: Mason Barge who wrote (272)10/11/1997 4:24:00 PM
From: Bill Hyres   of 696
 
Mason, Milton, Joe, Agreed. The charts are looking positive for the near term. MACD, Momentum, OBV, Price Rate of Change, and Relative Strength all show positive position. I am a long termer because our investment club purchases for long term and this is a recent purchase for our club. We look long and approach from that view. While BIOI has a couple of hurdles we feel that this will be a positive performer for our portfolio.

In the mean time on a short term picture the techs look good. On TC2000they have a proprietary piece of TA they call BOP, (Balance of Power), that is giving a great signal of accumulation. Actually we have a positive accumulation, basing time since June when it appeared the market decided it was done punishing BIOI for the weakness of the Europeon profits. The dollar has been weakening overseas and this should refresh the Euro profits. Meanwhile we are showing the strongest BOP over this accumlation period that started in June over the last week and 1/2. Here is hoping for a good response at the Red Chip review.

Bill
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