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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: jtig who wrote (8848)10/18/1998 6:30:00 PM
From: Herm  Read Replies (1) of 14162
 
How John,

I noticed the setting at IQC for the scale was set to linear. You
should always use log since it represents the price percentages
movements proportionally. BTGC should dump this week to $5.25 to $5.50
on high volume are reverse direction. Those BB bands are really narrow
indicating a decrease in volatility. The BTGC volume has been half of
normal. I looked back 36 months for BTGC and it has really followed
closely the zig zag BB and RSI pattern. That RSI is still right
downward slanted. It is going to take a significant volume above avg.
to reverse it for the long run. Add to fact that BTGC is going to
trigger a double bottom trading pattern. That increases the likely
hood of a reversal when the pattern is completed. More eyes are going
to focus on that event and trade the stock.

NEM is approaching a support level at $20 that will need to be broken!
With the prime and discount rate cuts and recovering rebounds in world
markets for now, gold is doomed to continue to drop like a rock. I
would bet NEM will break $20 after some sideways moves and eventually
tagged that lower BB. A great deal of market fears have been eased
this past week and elections are coming up and the federal reserve is
not about to push the sword into the bull just yet!
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