Duke, I still think we have a good shot at my prediction and here are some more reasons as you are a fellow chart follower. Ist of all the stock could fall to 9 1/2 and still be with-in my charts range. Below that would signal some serious trouble. Actually below 10 would be dangerous! Secondly, the wave pattern calls for a clear move up to 13 soon, and I will give you the fact that it could happen in the first week or couple of weeks of 98. If we are at the high point of the cycle when big news is let out, the stock can definitely go to above 16.
The reason I believe this will happen still in 97 depend on a few things happening. 1st, I beieve the whole market will still make another run at, and surpass the high for the year. 2nd, I believe we will see the INS deal very soon. 3rd, a second big deal will quite probably be announced and along with the new analysts coverage will be enough to push us to a new high. Also as usual, managers will be rearranging their portfolios, and I believe they are going to want IDX in them. We should get a heck of a bounce both right before and right after the first of the year!
Also as you noticed, our down days are still on low volume and our up days are exploding which shows even further accumulation.
I will give Rob a possibility that the stock could be a ten on option Friday, but, I think instead it will be at 12.5.
Whatever happens, as Ed said, this is an interesting stock. Sort of like playing Black-Jack, we haven't won much yet and we haven't lost much yet and the house is continously raking it in! |
