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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Esteban who wrote (9471)12/20/1997 3:17:00 PM
From: Doug R  Read Replies (1) of 79378
 
Esteban,

I think the failure of the signal on BMC makes a case for lengthening the postgap waiting limit to 5 or 6 weeks.

OCAD looks like it's approaching a good signal day.

BCRX looks like it actually set up a high tight flag from the low of the gap day and may be breaking out of it now. A move up on heavy volume from here would forecast a return to 15.

CKSG will probably be very sneaky when it signals and make a really good move.

LEN and MEGO might trail off for months and months before they start signalling.

SNB was not a gap down. They spun off a unit. The "gap" reflects the value of the co. that was distributed to shareholders. Actually the co. was CHH and the unit they spun off is now CHH while the parent took the symbol SNB. When you add the share prices together, accounting for the split as well, it comes to about $20. I had at one time mentioned the stock before the spin-off at $18. I like the prospects for it still.

PLH is purrhaps the only one of the gappers that did a real dead cat bounce. It's still early in the post-gap period though.

AGP looks very dangerous after that cascade down and new gap. I would start it on a new post-gap calender.

TRKN and TSEMF both had good signals and are both still trending up. Another opportunity may come if they pull back and start a move up from a higher low or if they pull back far enough to resignal. I think TRKN has probably bottomed for good though.

Doug R
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