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Strategies & Market Trends : Stochastics
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To: David Fitz who wrote (58)2/7/1998 12:08:00 PM
From: Wayners  Read Replies (1) of 927
 
They may be headed down, but there's no evidence yet. I think the trend looks good (up) on both MUEI and PETM for a long position. The trend on MUEI is much stronger and is much more preferable to PETM. I don't think the timing is quite right for an entry. I'd put both on the buy watch list. I think PETM after the dip on Friday needs to show a bottom first and MUEI needs to base out for a few days to get the stochastics down to a buy level which for it will be in the 60-70 range. I really hate PETM too because I shorted before earnings in the fall and they basically made their number and the stock started trending up. I had to bail with a small loss. Very irritating. The lesson there is to not take the earnings gamble on these short term plays. Bermuda Kennel boy link too huh? What kind of music does the band play?
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