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Technology Stocks : Seagate Technology
STX 237.49-1.3%4:00 PM EST
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To: William who wrote (6373)12/7/1998 2:46:00 AM
From: William Epstein  Read Replies (2) of 7841
 
William;

The specialist doesn't care about anything but his profits BUT. These averages are excellent indicators of his intentions because he created them and used them in the past to define the boundaries and direction of his trading range. Go to big charts.com and look at a 5 year, weekly chart. Use interactive chart. Set the indicators SMA at 90 days, 2 lines. It will give you the 90 and 180 day moving averages. You will see what I mean. Then set the SMA at 60, 2 lines for 120 day. These 2 averages are a record of what he has done in the past and they will show his future intentions. I have been looking for this pattern indicator for a long time and I think I've finally found it. Look at the 180 day. You see how it crosses all the low points? It defines his support line. Look at the 120 day. You see that it has been flat all year at 32. He is sitting right on it now. He has remained below this average since the stock took a nose dive in 96. Are these accidents? I know, you don't believe that, nor do I. These averages are not my averages, not your averages, they are HIS averages. He created them. That's why they are so good. The logic is that if he remains above them he is resuming his upward or bullish pattern. I think, its a pretty good bet and reliable way to gauge his intentions. After you've examined them let me know what you think.
PHOTOMAN
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