Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Ed Pakstas who wrote (12289)	5/11/1999 10:33:00 AM
From: keith massey	Read Replies (2) of 62348

For the TA's out there...NCT has been trading in a narrow downward channel for the past 3 days...bring up a 5 day chart 5 minute chart and it stands out like a sore thumb. It is at the top of the channel right now...sure enough a big block came in to stop the rise. In my opinion a break through the upside of this channel could be good for a $5-6 move back up to the resistance at $32. Of course it could also break through the bottom of the channel at which point I would get stopped out once again. I bought at the bottom of the channel on the last dip...I am not buying at random but at points that I believe are key in the chart. This one is down from $42 to $26 in 5 days... If the CIT deal went through today NCT would be worth $41. There is no way to know if the deal is going through but I am playing this stock for the risk/reward at this point. Best Regards KEITH

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