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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Dave H who wrote (10210)1/7/1998 6:29:00 PM
From: Esteban  Read Replies (4) of 79352
 
PGDCEB report.

Lots of action on the cats for the last 2 days since last report.

New gappers: RAIN, TLDCF, MCRE, PTB. PTB filed chapter 11. The rest were earnings related losses.

New signals: DAVE. Best entry after signal was validated on all three counts was 7 3/8 on the ask in the last half hour of trading. Signal day low was 7 1/16.

All 4 currently followed exit methods took OXHP and SGI off the table at varying prices estimated as follows.

SGI
Most agressive valid entry point was 11 13/16 on the ask. Exits:
1) 12 3/4 on 1/5 for ACT daily trend.
2) 12 3/4 on 1/5 for intraday trend
3) 12 1/2 on 1/6 for intraday trend and horizontal support.
4) 12 1/2 on 1/6 for intraday BB and RSI

OXHP
Most agressive valid entry point was 14 1/4, on the ask. Exits by the same methods as the above listed numbers:
1) 18 3/8 all on 1/6
2) 18 3/8
3) 17 3/4
4) 17 5/8

QUAL
Entry 3 13/16. Exits:
1) 3 15/16 on 1/5
2) 4 on 1/7. Likely price improvement to 4 1/16 on this one.
3) still open
4) 3 15/16 on 1/5

We're always looking for new ways to milk these cats in any systematic way we can find. Currently I'm searching for a reliable reversal signal to short a cat that has bounced from Doug's carefully researched PGDCEB new low signal. So far we have Ivan successfully shorting OXHP with the "just do it" method, and Michael playing ORCL for all it's worth in the pre signal stage. Please post your ideas or observations about PGDCEB plays and variations. Maybe we can develop a comprehensive strategy.

Esteban
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