Bill Wexler's Profits of DOOM Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bill Wexler's Profits of DOOM

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Larry McColloch who wrote (364)	3/12/1998 11:51:00 PM
From: Jim Roof	Read Replies (4) of 4634

What I cannot explain is the gap up about a week ago. I do not follow this stock and I assume it was news related. After this gap the stock remained near the top of the gap rally range (around 15 if I remember right) and the volume dried up. This is known as a flag in Technical jargon and the general rule is that when a flag forms it tends to do so at the halfway point of the total rally. This would mean that AVNT now has a tendency to trade about 2 points higher to about 18. I want to reiterate that these are just observations based upon history of other issues but the historical evidence supports these tendencies. Next time you get a big gap and the price holds while the volume dries up - get ready to cover or get ready to buy. The volume drying up is the key. This means that there is a short supply of stock (not short trading related) and any demand for it will drive prices higher. Jim

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next