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Non-Tech : 100% + Gain, in 72 Hours or Less
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To: Instock who wrote (359)1/4/1998 10:56:00 AM
From: Dave H  Read Replies (2) of 1488
 
Hi Instock,

If DRMD makes a move above 6 1/4 monday but it DIDN'T GAP up over 6 1/4 initially, my feeling is based on DeMark's retracement qualifiers is that it probably won't be sustained, and what happened friday (moving quickly back below it) is the more likely situation.

if DRMD gaps over 6 1/4, then look for another good move up.

One problem with figuring out what will happen is that last week was still low volume due to the holidays, and monday is really the first *real* session post-holidays. so i guess what i'm thinking is that a whole new batch of people might want in on DRMD that didn't have a chance when the initial news was released. I'd think this would be the GAP up situation.

The reverse:
On the way back down, the next price objective is around 5 1/2 -- and the next after that is roughly 3 1/2. If DRMD continues showing weakness monday AM and remains below 6 1/4, some sort of return to 5 1/2 is a pretty good bet.
If DRMD goes through 5 1/2 tomorrow, there's a good chance for returning to 3 1/2 area (not in one day of course!) especially if the close is below 5 1/2 too.
However, I'd like to see what happens monday as i think it will tell a lot regarding price objectives. I know the nature of this game is intraday, but since i'm new at using these projection methods, I think I'll need more info to make better preditions...(again, I'm trying to use DRMD as a test case...;)

thanks for the FA by the way -- it helps a lot since it further supports that this huge move up is purely based on this one piece of good news and that most people will end up profit taking short term...i think monday AM should be a good indicator of which direction DRMD will be going near term...

-dave
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