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Strategies & Market Trends : Charts With An Attitude; Trading In & Out

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To: David Smith who wrote (4485)	1/10/1998 1:14:00 PM
From: James Strauss	of 4701

BOBJY.... >>>You've consistently made good points on these threads about other stocks, but this isn't one of them. This week was merely an extension of the downtrend BOBJY has been in since mid-October. Let's put this one to rest...it sees 8 before 13.<<< ********************************************** Christopher: Thanks for the compliment... I can't always be right... : > But, I don't think I'm wrong here... In early September BOBJY broke an intermediate term trendline... Check it out on the Weekly chart... It recently broke a short term trendline to the upside at 11 1/8, and resisted much of the recent market turmoil until this past Friday when most stocks tumbled... It is now resting on the 200 day MA, and is also touching a mini rising triple bottom trendline... With positive expectations for earnings, I think this is a minor step back in the major upward trend started in September... It is more likely to go higher than lower... Jim

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