Alternative Fuel Systems ATF:VSE Message Board

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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE

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To: Stew who wrote (403)	3/27/1998 10:28:00 AM
From: Tom McIlwain	Read Replies (2) of 4605

Stew: Mark B gave us a good clue yesterday when he said a TA expert friend of his said that if the stock broke the $2.50 level "look out". (I am talking on the upside here). I am no TA expert either, but I have learned a few things from posts by other people who are. One of the rules of TA is that a resistance level, once broken becomes a support level. Therefore, I was looking to see if our freefalling stock would meet resistance at $2.50. Sure enough, it did for a while. Bounced off that level several times. Unfortunately (when I was having breakfast) that suport was broken. At this point a support level seems to be forming at $2.25 and $2.50 will now be resistance level. Too early to tell yet how this will turn out. No, I am not recommending either selling or buying per se. Holding is fine. Just that yesterday, people people paniced on the first drop in the price and sold prematurely. So, what I will say, whatever you wish to do, buy or sell, watch what support and resistance levels are set up and act accordingly. Don't just sell in a panic or rush in and buy at the open. Me, I'm still holding and gotta go to work soon. Tom

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