lcav Message Board - Msg: 4401657

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Microcap & Penny Stocks : lcav

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To: Harry W. Lowe who wrote (371)	5/10/1998 6:11:00 PM
From: Manny Gugliuzza	of 942

for the long or short term trader any pull back of 30% in stock price seems and very well maybe a very good entry point especially given the industry, momentum and the reduced volume on the pull back here. harry it seems this animal likes to or has an affinity for seeking the gaps it creates on the daily charts. so i am still expecting 2.75 or possible 2 5/8 not only to fill the gap but to form the right shoulder of the head we came out of by backing and filling. a lot of stop sells may have been triggered already down here so without any follow thu below 3$ in the early next week i will consider the low put in on the 5.55% day thursday unless this is breached before the buy signal hits. the shoulder of july aug and sept of 97 still represent a good short term range for a couple of trades,but i want to be in full position with any weekly close above 4.00. looks like a very well organized sell off as we have seen in the past so i am expecting another test of the upper shoulder soon. good luck to all. ar

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