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Strategies & Market Trends : 56er's Portfolio Companion
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To: freelyhovering who wrote (339)11/16/1997 11:49:00 PM
From: Dave H  Read Replies (1) of 492
 
"RECY--A confusing picture for me. Everything is positive on the stock except TSV which is
much lower then at the previous price peak. It is showing a good basing pattern though which
mimics the stock. Do we have a reverse H&S currently on the stock on the 1 day chart? Well,
the 5 day TSV is also showing a R-H&S pattern."

Myron, the IH&S formation is quite difficult for me to visualize -- could point out the key dates that form the structure?
I also looked at the 5dayTSV and it seems to be very shallow though I suppose similar formation.

I know that IH&S formations are very bullish; perhaps this is how doug gave his prior prediction of short term move to around 8 1/2 was it?

On regards to your concerns over TSV, I recall that Wordon says one should be concerned with the divergences with price/volume/indicators--if they move together, it doesn't. can't tell you much. recy has been volitile, drifting a bit down the last few dyas, perhaps that's what is being shown in the TSV?

Otherwise i agree with you RECY seems to be extremely technically sound. I got out of it like the rest of them last week but i'm think of getting back into recy & apco given their stellar performace while the market has gone haywire. i see tons of technical strength still building in both of them.

hope we get a good week...

-dave
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