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Strategies & Market Trends : Three Amigos Stock Thread

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To: Dakota Davids who wrote (1771)	3/16/1998 9:07:00 AM
From: Magnatizer	Read Replies (2) of 29382

DD noone who asks questions looks stupid. it is those who fail to question who end up looking stupid. I will not have a target for APCO until I know when it hits my buy level. The $9.50 level will expire on this Friday. The level will then increase as my resistance level trendline increases. If you take a look at APCO chart you will see a trendline starting the beginning of Feb to the end of Feb. Use a daily chart and connect the lows. That is my resistance line. It is rather steep. If APCO breaks that line to the downside my buy target will be lowered by at least one dollar. I do not think APCO will do this as it is a very STRONG stock right now. In fact I really don't think I will be able to get back in at 9.50. I will probably end up back in around $10.00. The reason I sold the shares that I did was to free up some trading capital. I felt there were other plays out there which have a better chance of short term appreciation. I don't think I will sell my long term shares for a VERY LONG time. happy trades david BTW good book to read for beginners; Pistolese "Using Technical Analysis"

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