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Strategies & Market Trends : Lizard King's Trading Swamp
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To: TATRADER who wrote (3731)1/8/1998 1:47:00 AM
From: LzzrdKing  Read Replies (5) of 7396
 
You really think ITEQ is going to 8? Then why aren't you short it? I saw a pretty nice bounce off support today there. No way will this one see 8. I think your mistake is thinking that technicals are etched in stone. By ignoring fundys as well as the overall market, I think you are making a mistake. ITEQ is a safe play as it has no connection to SEA and a favorable valuation. It also has good sponsorship, and the sector is favoarably rated in IBD. I think you are wrong, but time will tell.
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