LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: emil who wrote (3255)	11/27/1998 7:34:00 AM
From: LastShadow	Read Replies (1) of 43080

ELNK I would doubt that ELNK would gap up on that Reuters comment. I doubt anyone would call it 'little known' other than some hack writer. To be a full gap up it would have to open above 54, and looking at the chart, the day before that it was almost 58. There is a lot of selling pressure on it right now, and its horizontally correcting. If it does restart upswinging, it will probably succumb to more selling. If it gaps, I'd play it that way, although in about every case I can imagine, I would play it as a partial gap rather than a full gap even if it is a full gap. EGRP on the other hand has had a nice ride up and has just gone through a nice small cup and handle formatiion - although the volume requirement wasn't met for that exact shape. Still, regarless oftherumors, that one looks to be the much better play near term and wotrth watching. lastshadow

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