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Strategies & Market Trends : Lizard King's Trading Swamp

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To: TATRADER who wrote (4912)	3/6/1998 10:04:00 AM
From: pae	Read Replies (1) of 7396

Mark, an issue I've been watching and trading for a while may be approaching an inflection point. A daily chart shows a battle being waged @47. Would 2 days close over 47 suggest a break in the downtrend? I see @10 weeks base after a (75-38/75)=49% selloff. There are some that believe the selloff will continue to the 20s. While a weekly chart makes their point, I personally don't buy this as I see volume spikes, often on weak market days, suggesting institutional interest here and now. Some of the bear noise suggests the bears are greedy but nervous IMO. The last 6mos. suggest an upside down H&S but the right shoulder looks a little weaker at 45 than I would prefer. I am long NikeB and would appreciate your opinion. Thank you, Paul. P.S. Go cobr! A couple of closes above 7 3/8 would be good.

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