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Strategies & Market Trends : The Rational Analyst

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To: jopawa who wrote (732)	4/26/1998 11:28:00 AM
From: HeyRainier	Read Replies (1) of 1720

[ Chat Re: QSound Labs ] Hello my friend. It has been quite a while since we've last been able to chat about our old-time favorite. I still think low 2's are in the works, but it has held quite nice at 2 5/8. You're right about it holding up at current levels. The technical picture, since being a less-than-$5 stock, is not as easy a read, but continues to exhibit bearish characteristics. I think though that it will make a good stand at the mid-$2.00 range, but in the mean time, I see very little upside room for this to move up to $3.00 and beyond. There is a significant downtrending Trading Channel that QSNDF is caught in. I estimate that it will take at least three to four months for it to break out of it, assuming that current prices continue to provide it support. I haven't written this one off yet, however. It still continues to be one of the daily issues I keep an eye on. Warren Buffett waited 30 years before opening a silver position. I guess waiting one year on my part doesn't seem so bad in comparison. :o) Regards, Rainier

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