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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: giddy guru who wrote (16089)	5/18/1998 10:58:00 PM
From: j g cordes	Read Replies (2) of 67980

Hi giddy.. I've been in and out of AMGN a number of times and own it now. 72 is my major next step target.. then 78 within 1 year. short term support 61 short term target 64, then retrace, then to 68 its running in the high end of its stochastic so it could/should falter at this neat little double top if market falls a lot in general one nice addition, its been getting value based rumors of buyout based on its intellectual property, which "they say" in a divestiture would pay for the buyout getting the current business free. Certainly not saying that's the case, but its nice to have assets on your side when buying. But again "they say" most anything these days. Timing to enter if not in already.. at 60-61 which it should back off two within the next week IF its not going to challenge and run through 65.. which would be a traders gambit. goodluck Jim

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