Bill Wexler's Profits of DOOM Message Board

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

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To: Mike Greene who wrote (497)	3/19/1998 12:58:00 AM
From: Jim Roof	Read Replies (1) of 4634

Hard to say to be honest. It has definitely consolidated in the 10-12 range but the question still remains "which way from here". If it slides on weak/moderate volume to under 9 1/2 then it will probably keep going lower. OTOH, you might also look for a potential high volume breakout to the upside (on the chart alone this looks slightly more probable). I know this is ambiguous. Just watch closely for a few days. It should not be long before its mind is made up. The chart pattern made here is a 'triangle' which has formed for the last few weeks after the big positive move. This pattern continues the previous trend about 70% of the time (the direction that led to the triangle was positive). However, the lower boundary of this one is flat and that weakens the picture a bit. Volume is consistent with a lack of interest by either buyers or sellers and something will give soon. Good luck, Jim

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