IMAX 3D-the wave of the future Message Board

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Non-Tech : IMAX 3D-the wave of the future

IMAX 36.03

+0.1%

Nov 25 3:59 PM EST

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To: JAMES BORECKI who wrote (51)	3/23/1998 1:44:00 PM
From: brad	Read Replies (1) of 170

hi james in this case there are two important numbers first... $39.00 which was the top of a major base starting week of 07/11/97.second... $39.95 which was the top of the intermeditate/minor base starting 02/19/98 on a daily chart. as far as base and where to buy on a reaction i feel it is more important to say that this market has to maintain its high of $39. what i simply do in a case such as this chart is buy on a reaction as close to $39.00 as possible. if stock subsequently goes below $39.00 this is a problem at least from a technicians standpoint because then one could say there is a possible bull trap. which is negative. as long as stock stays above $39.00 then we are technically healthy. but do not buy too far away from $39 because there you may be in no man's land. the main point is that once a major base top i.e $39 is broken on the upside the move more often than not continues. if it does not there is a problem and one should be cautious. good luck james brad

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