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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Bob Biersack who wrote (28533)4/16/1999 4:38:00 AM
From: Doug R  Read Replies (3) of 79313
 
Bobcat...again,

ASTN:

Nice job on the hold since Dec!

As a MIMBO with excellent supporting volume and a great move so far, The target remains its previous all time high of 15 1/2.
The 3 dRSI on the damn thing pasted from 3/24 to 4/6. That's where the real mondo accumulation took place. This last move has the 3 dRSI slowly rounding off to set up quite a hitch.
Woody's stalking the 3 dRSI trick on it and when it signals it should be a real doozie. I'll start tracking it too just in case Woody "forgets" to post it in his excitement when he jumps back in. >>gg<<

I still have that correction looming with the focus on the S&P's current trend line. If it occurs, that would slow ASTN down a bit but not too seriously I would think.

A best case scenario for the market would be just a lousy month or so ahead with no advance.

In any case, at risk of sounding like the talking heads on CNBC or Bloomberg, a correction would be just a typically normal and healthy part of a bull market. However, it's best to have your trading accounts in cash before it hits and maybe have some shorts lined up. Long term holdings will still be fine when it's all over.

Just watch that trend line on the S&P,
Doug R
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