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: Doug R who wrote (11649)	2/7/1998 5:53:00 PM
From: Doug R	Read Replies (5) of 79270

From last week's list, ADTK had a bit of a breakdown Fri. It closed basically unch. for the week. It stays on vol. watch barring any further deterioration. ADX gapped up a bit on Mon., is up 5/8 for the week and looks very, very good here. It stays on vol. watch. AEN was not able to do anything volumewise Mon or Tue and is now accelerating down a rounded top on increasing volume. That's a sign to many to go short on it. The bottom of the rounded top is usually found in trendlines from before the move up. AILP popped on volume on Fri. Up 10.8% for the week. Looks very good. AHA volume never clicked. I'll look at it again next weekend. AINN is getting very interesting. It remains on volume watch. Up a 1/4 for the week, volume growing. AK hiccupped on volume on Tue. It needs to hold its short term uptrend. Up a half point so far. Looks so-so. Continuation still depends on volume. It remains on the list. AKRN has stepped up a notch with a volume hiccup on Wed and good volume on Fri. Another hiccup on volume is all it needs. It remains on the list. AMZN will probably show up on the list every week. I first mentioned it about a month ago along with LHSPF. LHSPF has gone way up. AQUX was miserable. It's removed from the list. ASHW went for nearly a point on Mon. but the close was weak. A definite signal to exit to avoid possible risk. It likes to hiccup though and will be checked daily to see how it might base out here. ALI is up 1/4 for the week. The gap down Fri. is bothersome but the close was enough to keep it on volume watch. On Monday, ALSC gapped up a touch, the volume was obvious early. That was a good hiccup on volume. from 6 to 7 1/2 in 2 days...25%, I should have just sold it there. The ensuing pennant failed as it went back under 7. Overall it was a good profit opportunity on recognition of the hiccup. Chasing it the next day dictated a higher degree of nimbleness as a trade. If the strategy for buying on Tue. was for a longer perspective, it's still quite viable. Support at 6 1/4 looked solid. Friday's close was pretty strong. It goes right back on the list again. AMCV is up 1 3/4 on the week. A good day on Wed. could be considered a "hiccup". Thu. was definitely one. The uptrend was challenged on Fri. but it closed well. Another hiccup will keep things rolling. It remains on the list. ANCO has shown nothing volumewise or pricewise. The 50 dMA is fast approaching. It remains on the list. BEAS hiccupped on Thu. so I bought it. Fri closed just above where it needed to but not as strong as I would have liked. I'm trying to decide on how tight a leash I should keep it on. I'll have it planned out before the open on Mon. BEV volume died early on Fri. stifling the hiccup. When the price surged later in the day, most volume was selling. It remains tenuously on the list. CKEYF is a volatile sucker. I don't quite trust it here but I'll keep it on the list. EGPT hiccupped on Wed. Made a nice move on Thu and pulled back some. Up 1/2 for the week, just over 10%. It remains on the list for another hiccup. I suggest watching intraday trendlines for exit if it does it again. ELGT remains on the list. Wed through Fri is a 3 day widening formation that reached down to check out the 50 dMA. This is bullish if a breakout on volume occurs. ESPRY should be watched very closely. Unch for the week but huge vol. on indecisive seeming price activity Thu and Fri. IFCI hiccupped late Wed. It's broken out now. Up 3/16 for the week so it's not at all out of reach. It looks very, very good. LABZ is still consolidating and still struggling with the 50dMA. It's still on the list. MTON hiccupped on Thu. The follow through on Fri. looks good. It probably needs another volume shot to keep going. I like it for the long term also. ONPT definitely remains on the list. PLAT hiccupped right away on Mon and went just over 10% by Wed. It still looks good for another hiccup, it remains on the list. SEEQ just up and took off on Wed. The close on Thu. was a signal to exit the trade. I'll keep it on the list since it's still under the 50 dMA and may get back over it to start an uptrend. LHSPF is way up. Further review of last week's list and new additions coming up. Doug R

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