The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: ivan solotaroff who wrote (6843)	10/31/1997 2:59:00 PM
From: Doug R	Read Replies (6) of 79270

Ivan, Until the market cracks, return to uptrend watch is still in effect. The next week or so will tell alot about what's in store but until direction is evident, we're still, strictly technically speaking, in a bull market. I'm still more hesitant to go short at this point than I am to go long. I'm just sitting in MTON and APCO right now as I have been for a while. Over the last year and a half I have noticed that both ACRT and SMOD tend to move before the market so I'm watching them closely. ACRT is doing great but SMOD is still ditzing around. Volume is important on return to uptrend stocks in the days after the return as the prices either advance on good volume or fail to hold the return on low volume. Returning to the trend is the first step, continuation of the trend, as in stocks like ACRT, is the buy signal. So far, ACRT is a buy and SMOD is not. Arch Crawford on CNBC just called for another couple 500 point down Mondays by Nov. 14. I think he's got the same cycle analysis chart that I have although he's also worried about Pluto rising as the market opens on Monday. <<gg>> Doug R

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