Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 299.25

+1.2%

3:12 PM EST

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To: Rocket Red who wrote (2932)	2/16/1999 7:17:00 AM
From: Bruce Bland	Read Replies (2) of 52051

To All: I have a friend named Bill who has been trading for years and just recently has decided to go on-line. He has always done his own DD, but worships graphs and has become quite good at reading and interpretation. He has asked me to show him "the ropes" and I suggested that he use this thread as a springboard (so ya'll behave). Although he can't join us for a couple of weeks because of his work schedule he has asked if he can help with chart analysis. I got this EM from him this a.m. on FTEL, PROG, & INOW: hey bruce! have taken a moment to look at three you presented.... (Personal Opinion Only) POO in other words....but see what happens :))) FTEL: Considerable resistance over head at the $4-5 range. should trade in its current range for awhile...limited downside risk to $1-1.50 range tho. next hurddle to cross is at $3-3.50 level....if it crosses this point and on hvy vol (6x-10x) (daily) i"d be a buyer.....No overhead resistance above...but could create one on rapid move up!!!! INOW: this stock shows potential....Gapped down back in Jun-Aug 98 period and has since consolidated , closed gap and retested breakout.....sucessfully! Has momentary ran up against resistance at the $3.38 level but above that there is no overhead resistance to slow it down....until it creates one with heavy buying....could pull back to $2.75-3.00 range and on hvy vol (6x-10x daily) I'd jump on this one..... PROG: Its rapid move from $5-17 level is now being questioned. However it sucessfully retest $14 on two occasions...and would appear to be building a springboard at its current level (ck action on intraday) see if you can see the spring being wound up...If it drifted back to $14 for a while I'd find it a better buy than at it current level... Perhap an order to buy at $14 if volumn increased measureably would be in the offing.......see ya good buddy! bill

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