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: Tim Oliver who wrote (7407)	11/10/1997 12:14:00 PM
From: Doug R	Read Replies (1) of 79378

Tim, Please provide the post you reference in which I stated the price would not go under 4. I haven't found it yet. I mentioned 4 as a retest area but obviously other retest areas are in force. The key factor for my decision making is with the two uptrends that are in play. RLLY is working on either establishing a 2nd accellerated trendline or it may move back to the first accelleration. The lows from 8/26/97 to 9/5 define the first steeper line created after RLLY originally turned around in Dec. of '96. I would use a break of that trendline as a sell signal. If that line holds, it's rate of increase would represent a favorable %/month rate of return. Of course, it doesn't reach profitable levels in relation to the POW price for a couple months but if it establishes the base price for the next accellerated trendline instead of testing the current line, that would speed things up significantly. In other words, the dynamics in the chart and technicals that give RLLY its attitude are still intact. Doug R

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