The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (16682)	5/10/1998 7:16:00 PM
From: shasta23	Read Replies (1) of 79371

HI Doug! You posted yesterday or the day before about CYLS and i'm curious why you choose this stock for a short. TO start: i have no experience in shorting and try to learn. Yes the stock went very far in a very short time but so far has not really shown any CLEAR signs of prolonged weakness. Ok, two close under the 9EMA is a start since it hasn't done that since the move started but you already shorted before this. When i go through my charts i often see stocks bounce off their 21 EMA for example. So why would that not happen in this case? Stochrsi(8,5)-which behaves like stoch7,3,10- and stochrsi(14) are actually now in bottom mode and could be ready to show some uptick.CCI(14) is now approaching a longer term trendline(at -75) where the stock could bounce back. The one indicator that clearly speaks to me is MACD in short and long term time frame: short term is already negative and long term clearly topped out and is now heading down. So do you expect still a little test of the 14 area or do you think the stock will go down from this top? Any comments are appreciated!Just trying to learn... Stefan

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