I made the following comments late last night:
If you wouldn't mind, I'd like for you to post on my behalf
a comment on Cascade Communications.
As you probably noticed in the discussion group, many people
have become excited over the movement in CSCC on Monday.
I think anyone who purchased at 40 and under should be fine
this year. I'm in the business of getting the lowest price
on a long position and the highest on a short entry, so I
just wanted to suggest 29 1/4 as an intra-day upside resistance
level for tomorrow (Tuesday). If CSCC opens above 29 1/4,
then consider 29-29 1/4 as support. If CSCC moves below
28, then support is at 26 3/4-27. ITD upside maximum, void of
any news reports, etc., should be 31 1/4-31 1/2.
Thus, if anyone wants to establish a long position in CSCC, the
following can be used as criteria:
(1) Opens above 29 and pulls back, but remains above 27 3/4 and then
moves back up above 28; buy at market.
(2) Pulls back to 26 3/4-27 and moves back up past 27 1/2; buy
at market.
As always, watch the overall market. An inta-day tick chart of
the Dow Jones Industriala and and Nasdaq 100 are extremely helpful
when timeing intra-day trades, as is a real-time analysis of
advancing and declining issues.
Lastly, there are indications for a possible pullback of 1/2-1
points tomorrow.
Profitable trading to all (that work hard)!
Andie Lin
*************
Cascade has supassed my calculated ITD high of 31 1/4 by a full
point. Support should hold at 31-31 1/4 on the way back down
for a modest pullback. Next upside target should be 34 1/2-35,
depending on how Dell's earnings are received. |
