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Strategies & Market Trends : Charts With An Attitude; Trading In & Out

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To: OldHack who wrote (4033)	11/25/1997 8:06:00 AM
From: Dave H	Read Replies (2) of 4701

OH, Chart analysis on CADE shows recent violation of three major support lines ranging between 2.4 & 2.5. Doug recently said he could see trading CADE at around 2 1/4 since he sees some solid support there.....be careful averaging down on this one. CADE is in a downtrend right now and it's really impossible to say when it'll hit bottom. I think as people have pointed out, violation of the IL & reduced margins have caused the current trend. BOSCF -- haven't followed this one as closely since I got out with a loss; MM action is very important on this one -- I forget who posted a great post about it, but essentially there are two major MMs working this stock. The recent MM action may imply a new move up in the near future. However, I'm just writing what I think I read in prior posts. Perhaps someone else can add some more? At any rate, at this point it looks like BOSCF's strong support is at around 5, while CADE is still looking for it's new support. IMO, between the two stocks, BOSCF is a safer bet right now. (all the usual disclaimers, blah blah blah) -dave

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