Trinity Biotech (TRIBY) Message Board

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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 0.822

+2.7%

Nov 18 3:59 PM EST

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To: bill small who wrote (713)	5/8/1996 8:02:00 PM
From: Peter Caradonna	of 14328

I've invested heavily in the tools and education to be a reasonable tech analyst. After all I've spent and learned, I don't think tech analysis is valuable for even a 1 week prediction. Maybe it's me but most of the time it lets me rationalize what I would have done anyway. I have Signal, used telechart, telescan, and trade station. My experience has been that tech analysis is most valid to predict about 10 minutes into the future. I'll tell you what I see: your milage may vary and all the usual disclaimers from Dowe Cheatem and How! The TRIBY charts I have look super. It's a screaming short term sell if you don't know anything about the company. I was sure we'd break 5 on the down side today, but all the price drops were met by stiff unrelenting buying. We ended the day recovering everything except for the luck person who bought the closing tick. Once the trend reversed every one (Including me) jumped on it. A 1 point spread just is just dying to be bought when you can back it up with a story like TRIBY. The long chart looks like we are building pressure. Indicators like OBV, BOP, ect that track moneyflow are pegged to the upside. The price trend charts are pointing at 10 in less than 15 days. All of the other charts are really useless because the stock is going nonlinear. I know you think I'm nuts for doing it but I did manage to sell quite a few shares over 6 7/8 and was looking for an entry. Normally I would have held my breath longer but the market reversed also and I did't want to be holding cash and miss what I think are going to be up to 2 points on the up side. When we get to 10, I won't trade this one anymore. Now for thr TRIBY tech prediction............ Tommorow we bounce of 7! The following may offend some: Please don't read or please forgive me. I had a professor who used to enjoy telling us that "statistically speaking people have slightly more than one breast and somewhat less than one testicle". A variation on "Lies, Damn Lies, and Statistics". Tech analysis is the current height of statistics. Of course I could be wrong, they certainly do sell a lot of books. Peter

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