Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

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To: go4it who wrote (3741)	5/5/1999 9:13:00 PM
From: Caroline	Read Replies (2) of 39683

CB, I agree on ORCL. I had a buy in at 23.5 that didn't get filled. pasnewsletter.com stock that is also a BTTT, for tomorrow: PSIX (particularly nice pattern), buy stop 51.625, target 59, stop loss 49.625: timely.com (The Other) CB [EDIT] PAS commentary on PSIX: PSIX: PSI Net is at the lower boundary of a Symmetrical Triangle consolidation. Notice that the lower boundary has formed as a result of support provided by the 50-day MA. This is worth noting because demand for the stock is high at these levels due to a dual convergence of support lines, even though the trendline was created by the 50-day MA. If prices get above their 18-day MA, which shouldn't be much of a problem, they will most likely rally to the upper boundary of the Triangle, and possibly continue through for a breakout since this rally is the 5th point of reversal within the Triangle. Buy PSIX once it trades at 51 5/8. Target is 59. Protective stop is 49 5/8.

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