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Strategies & Market Trends : Three Amigos Stock Thread

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To: Ditchdigger who wrote (5852)	6/12/1998 12:22:00 AM
From: Magnatizer	Read Replies (1) of 29382

DD USXX TA read Long term near strong, one red flag is the MFI 89 which is trending down. Short term mixed/weak. Weekly buy signal given week of 5/22/98 but it has not really went vertical like I would like it to in order for a real run to begin. Magnets: .5626, .58, .625, .66, .6876, .72 strong, .75 strong, .8126, .875, .9376, 1.00... As you can see there are many magnets in the general area right now. this will give USXX a real choppy ride til it leaves them. USXX fell below the .8126 magnet today so a test of the .75 is likely soon. I also note that the magnets from .5626 to .625 were never really tested. This is generally not a good sign. I would like to see those tested before initiating a long position in the stock. I am assuming USXX is a BB stock. If so the TA can be a bit misleading. The same with biotechs. Very much more news driven than any thing else. If no news comes out the TA is great. Once news comes out anything goes ht david

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