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Microcap & Penny Stocks : VLVT (was CSMA)
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To: wlheatmoon who wrote (3910)12/19/1997 11:37:00 AM
From: TraderGreg  Read Replies (1) of 11708
 
I received this EMAIL from Dennis Elam on Thursday. It pertains to WEDNESDAY's activity:

"JUST AS CSMA OVERTHREW THE 200 DAY MOVING AVERAGE AT THE TOP (2.50) IT OVERTHREW THE 50 DAY MOVING AVERAGE AT THE BOTTOM (60 CENTS)GOOD VOLUME YESTERDAY NEARLY DOUBLED THE PRICE AND WE BROKE THE DOWNTREND LINE OFF THE 2.60 HIGH. ON THE DAILY CHART BOTH STOCHASTIC AND MACD ARE NOW IN BUY TERRITORY ALTHOUGH THE SHORTER TERM CHARTS SUCH AS 60 MINUTE GOT OVERBOUGHT ON THE RUN UP YESTERDAY. CONCLUSION-EXPECT SOME BACKING AND FILLING BEFORE THE NEXT RALLY RESUMES. LET US HOPE SUPPORT IS NOW IN THE 80 CENT RANGE

AGAIN ADMITTEDLY A LOT OF TECHNICALS DO NOT WORK ON SUCH A SMALL STOCK BUT IN THE REALLY BIG PICTURE THE 50 DAY AND 200 DAY MOVING AVERAGES DO COMMAND SOME RESPECT AND ARE SHOWING SOME SENSIBILITY IN AN OTHERWISE INCOMPREHENSIBLE PRICE ACTION. "

For all who are in to TA.

TG
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