Candlestick Charting--The unknown indicator Message Board

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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: MonsieurGonzo who wrote (958)	12/15/1997 11:49:00 PM
From: Broken_Clock	Read Replies (1) of 1589

MG, I am gonna have to start taking my own advice! I figured IBM & HNZ so naturally i went long on some driller/oil service stocks. I am so new at this that it is sometimes hard to believe how accurate these candles are! TWA...has that GAP at $9...goes all the way back to june...I'd call $9 support.I don't know the earnings outlook but I'd be leary of shorting airlines in general, I talked to a UA pilot. Each 1 cent increase/decrease in jet fuel price means $15,000,000+/- in cost to an airline like UA. Since oil is way down I assume jet fuel is to. Therefore price of jet fuel is the secret key ingredient. DAL is in a congestion phase...hard to call...the gap at 113 was tested with the shadow so no need to go there yet. I would think that barring further overall market weakness that spring would be better when air traffic lessens after the holdays...mavbe fuel will be higher too. US looks promising...nice gap at 53! AMR looks like it wants to go up if anywhere. Mickey looks invincible. Does the mid oct. shadow fill te Nov gap? if so, it's a very Goofy fill! IOM...wait for confirmation! $24 looks reachable. RDRT...that's an ugly company...looks like sell the rallies territory until something changes. SEG...same as RDRT HTCH...ditto Since you are long IOM why not pick up some puts when the rally stops(if it rallies)? Good Luck

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