Tom Dorsey Q&A Message Board

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Strategies & Market Trends : Tom Dorsey Q&A

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To: Lyn Benson who wrote (69)	3/10/1998 5:27:00 PM
From: Ms. X	Read Replies (2) of 102

Hi Lyn, Tom's book is excellent for the beginner. It is an easy read adding all the information you need for P&F analysis without being overly technical. His other recommended books cover market economics etc. I've read some and liked them very much. Are you new to the market or just the technical analysis? Please ask any question, I'm more than happy to help. LGND: Broke through its bearish resistance line and (as of yesterday) is sitting at resistance at 16. 16.5 would be a double top buy signal. The relative strength is weak and the daily momentum is negative. Sign of real trouble would be at 11.5 a violation of the bullish support line. LGNDW I don't have in my database but I would imagine it mirrors the above fairly closely. I am always cautious of stocks whose RS is weak. LGND is in a good sector right now, one of the lowest sectors, which gives it better "field" position than most but don't let it slip away from you. The stock in the past few years has been in a trading band with 18 being the high and 9.5 the low. My guess is it will stay in this band unless it can break that 18 resistance. Have you looked into the fundamentals? Take care, Jan

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