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: ivan solotaroff who wrote (9442)	12/18/1997 5:41:00 PM
From: Esteban	Read Replies (1) of 79382

Ivan, I don't think I'd count OXHP as a signal day today, after all. It did close off the low, barely, but on very negative movement this afternoon after it met the volume criteria. Couple this with the fact that it gapped down within the last two weeks. I've decided to leave it for braver souls, at least this time. OTH, SGI looked very positive the last half hour. I bought in at 12 7/16. These shares are a pure PGDCEB play. The others were purchased before I understood the nature of the beast for different reasons. I was looking for some long term holds after the Oct. decline. If we get a good bounce here, I may unload all my shares, and certainly the ones I bought today bounce or not. The risk here Ivan is a morning gap down. Otherwise a stop just below the signal day low keeps any losses small. I really like the risk/reward ratio for this strategy. It allows an entry point very near a likely bottom with the apparent high probability of a bounce. Esteban

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