Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: TATRADER who wrote (4214)	1/30/1998 4:08:00 AM
From: shasta23	Read Replies (1) of 7396

HI Mark! Just trying to learn something about shorting. What do you think about SVRN? Just broke down from a descending triangle and now tries to rally back to the resistance line at 19. The usual indicators (stochrsi, normal stoch(7,3,10)...etc) suggest oversold conditions and could give some power behing that rally. But the resistance line looks awfully strong. Would you still consider this a potential short candidate just because of the impressive chart pattern or do you "require" for a good short that the indicators are reaching overbought levels( i remember that you like the topping of stoch over 90?!)? Maybe it would be a good strategy to observe and if the stocks keep failing at the 19 yard line short when the e.g.stoch(7,3,10) reaches overbought levels? Stefan

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