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Strategies & Market Trends : Stochastics

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To: TLindt who wrote (435)	4/3/1998 3:47:00 PM
From: Wayners	Read Replies (1) of 927

Well it doesn't look like a sell signal on CKFR today, however it didn't go up--not a good sign near a resistance level. Volume was down as well. I think there is profit taking going on, its just not dropping the price yet. With the big runup and really high volatiliy, you've got to anticipate a sell signal. The 5 day stochastics are above 80 and are maxed out at the upper bollinger band on stochastics. I'd sell today before the close today or early on Monday to lock in profits. There's no reason to hold onto higher risk positions like this one. I'm thinking countertrend drop on this one.

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