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Strategies & Market Trends : The Rational Analyst

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To: Scott H. Davis who wrote (1293)	8/3/1998 1:30:00 AM
From: HeyRainier	Read Replies (1) of 1720

[ VICL ] Scott, VICL is indeed in oversold territory, but even by the shortest term indicators I follow, the recommended course of action is to stay aside until the distribution subsides. The decline has not come on high volume. I do not concur with your views with regard to the decline being on low volume. The most recent decline has occurred on five times greater than average volume. The ascending trend line boundary was violated in concurrence with the violation of the 89 day moving average, which took place on 7/21/98. By then, a majority of my indicators had turned bearish, and has not looked back since. Despite the bleakness of the picture, there does appear to be some support at $11.00 (we managed to catch the stated peak of $19.00 on 6/2/98--let's see if the opposite can occur). A quick snap-back to $12.60 would appear to be a possibility, but in any case, I would not approve of any accumulation until the selling subsides and/or the price action first stabilizes, or reaches the above stated support level. Good luck. Regards, Rainier

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