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Strategies & Market Trends : ROLLING STOCK STRATEGY
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To: Joe at HOME! who wrote (26)3/8/1997 8:10:00 PM
From: Doug R   of 33
 
Rolling stocks are appealing. Frequency of rolls is a factor that
seems vital. One stock I have found that has a high frequency is
American Pheonix Group (aptly named). APHX is the symbol.
In the last 12 months it has rolled from the 1 15/16 to 2 1/8 range
to at least 3 and twice to 4 a total of 6 times. Each time it came
down there has been a wait of 2 weeks or less to the top. It is
currently 2 3/8. Keep an eye on it.
Wade Cook's current focus is on FONR. I have found that his tech.
staff forecasts 5 stages of rolling for a total of 32 (29 left) rolls
over the next year and a half. The first stage involves a rise in the
buy point of 3/32 each roll. The second stage rise is 5/32. The
current buy point is an ask of 2 27/32. The corresponding target
is 3 11/32. If you look at the chart of this one you will see a
rather abrupt turnaround each time it moves over the sell points.
The W.C. people are really into this one heavy. The fundamental
picture does hint that the price could leave some short term players
behind at some point in the intermediate future. Positive news from
the company is forthcoming and the stock's swing up then down will
be a great verification of the rolling players' influence. Let me
know what you think. Doug.
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