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Technology Stocks : 3DFX
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To: Chip Anderson who wrote (4946)6/30/1998 11:45:00 PM
From: Mike Sesan  Read Replies (2) of 16960
 
Chip,

Stochastic buy was generated mid-day today. Stochastic value went from 16 to 35 by the end of the day and generated the buy when it crossed the 20 line. The r squared value for the 14 day period is .70 indicating a strong trend. I believe if the trend remains strong we can hit an overbought level and remain there for a good period. My only concern is that Stochastics do not work as well in strong trending securities.

For what it's worth lets hope the r-squared value stays above the critical number of .27 because that will indicate continued positive momentum. Since we hit .70 as it relates to .27 as the benchmark we are trending strong. It just needs to pick up speed.

Mike
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