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Strategies & Market Trends : Three Amigos Stock Thread

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To: Prof who wrote (9614)	10/18/1998 9:08:00 AM
From: Magnatizer	Read Replies (1) of 29382

Prof many of the short term technicals I track are in the right mode. CCI 13 is over 200 (my favorite overbought) and still heading up. It can turn on a dime. Other short term techs are overbought. Had a volume pop Friday which I expect will last through the am Monday then, as PURW hits overhead around 8 (magnet neutral zone) it will get the sellers stepping in. Buyers at this point should be exhausted and PURW profit taking will start, giving a nice ride down. In addition to the short term techs being overbought the long term techs are still somewhat weak. They will not lend support for a extention of the run. Next to check the earnings which PURW has a habit of blowing out the door. I have not checked any news or rehashed the FA on this call. ht david K went to check the earnings. Not released yet. Last release was 7/21 so next week would be the logical release area. This does complicate things. PURW may just base around 8 but I may still try the two way trade. Here is why I think PURW may do well in overbought in the short term quicken.excite.com

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