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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO
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To: freelyhovering who wrote (227)5/12/1999 9:10:00 PM
From: Sergio H  Read Replies (1) of 1316
 
<CMGI>

Nice going Myron. According to DeMark's work, CMGI is off to the races.

Draw a line from the 4-26 high of 36.5 to the 4-30 high of 34.5 and extend the line on the right side. Note that on 5-10 the trend was violated on the upside.

How high will it go? Start at the crater when MSGI went to 21.25 on 4-20. Draw a line straight up. Draw a line from the 4-19 high of 39 to the 4-26 high of 36. Note where the lines intersect. Rounding off, the intersection should be at around 37. Substract the low price form the intersection price (37 - 21.25= 17.75). Add that number to the price of the trend breakout and you have your target price (31.25 + 17.75= 49)

AS
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