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Technology Stocks : Seagate Technology
STX 253.86-2.9%Nov 18 4:00 PM EST
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To: David Jones who wrote (6125)10/30/1998 8:20:00 AM
From: William Epstein  Read Replies (2) of 7841
 
David Jones;

I understand. Stochastic is nearing its top limit. Also a suggestion. Photoshop has a window that will give you the angles. You can download the charts and open in Photoshop, then use the line tool. When you draw a straight line, up or down, it gives you the exact angle. If your going to do this on a permanent basis this tool saves a lot of time, frustration and paper. Despite its fearsome rep. it is not that difficult to learn for this purpose. I assume that you have a box that can handle it.

Getting back to your wedge. Yes stochastic is almost topping out but it is only one indicator. Combine it with with the short interest picture and you get some idea of the specialist's near term goals. I believe he will take the stock higher but not for too much longer. If he does then he signals a real change in attitude. As I said the SMA is about 23. He is above the moving average now. If he moves much higher or stays above it for much longer it will begin to reverse. That would be a definite signal. When a stock is in an uptrend the stock usually stays above the SMA and retreats to just below the SMA on down swings. I haven't seen that yet.
PHOTOMAN/William Epstein
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