The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: JKraft who wrote (10567)	1/15/1998 3:20:00 AM
From: Doug R	Read Replies (2) of 79284

Joanie, I remember very well. I also gave you a target of 15 on it I believe. It has outperformed my expectations and last week I told the thread that you and other 56ers were in it. I really hope you are not too attached to ABTX. It went above the impossible line and a reaction is VERY likely. When RECY and RADAF violated the IL everyone thought I was crazy to suggest they were in for a drop. Both dove 30 to 40% as a result. ABTX stands to dip only 20% to the ACT so don't sweat it too much. The ACT is a trendline from which a stock can sometimes be catapulted to the IL. Once the IL is violated, a pullback to the ACT is the rule. However, now that you are aware of this, you may want to consider at least hedging yourself...buy puts or sell calls. After all, your money is the real baby here, not the stock. The most aggressive way to go would be to sell it and go short. Then it would still be your baby, just a short baby though. After it reaches the ACT, cover the short and go long again. I'm just reporting the facts. Doug R

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