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Strategies & Market Trends : 1998 Magic 25
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To: Dale Baker who wrote (111)1/4/1998 5:07:00 PM
From: Loren  Read Replies (1) of 116
 
Dale -

Note that the bears were able to push the stock down appreciably during the day, but in the end the bulls were able to push the stock back up to essentially the same closing level as the day before.

I see this as pretty bullish, especially if you assume that action at the end of the day is indicative of the bullishness/bearishness of the pros.

Now, as I said in an earlier post, I work off of weekly data. Last week, the weekly charts showed a clear, strong uptrend, unphased by Friday's action.

Loren
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