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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: curtis christopher who wrote (9427)	6/7/1999 9:28:00 PM
From: TATRADER	Respond to of 59879

Curtis, I had a buy order in for HAUP today at 15.00..It never got triggered because the support lines were at 17.50 and 15.00...17.50 obviously held...On stocks like this, use your fast stochastic 8 period..(Cooper uses this one) Keep your eyes open when stock goes below 20 line as early warning that reversal will take place..Sometimes you may have a double bottom with this indicator, but on a stock like HAUP, there was just too huge an upward spike to have these boys muddle around a second time...The short players had to cover, they were getting nervous...The overall market made them press the buy buttom and leave me in the dust earning for shares..I am looking for the stock to settle in a trading range for now...On the upside, you are looking at 27.62 by 17.50...This stock seems to be a challenging one to short...The shorts got barbecued the last time it ran at 38.00...I do see your pennant formation...If you use your pattern, you have a flag pole measuring from 12.50 to 27.50...Difference is 15.00...Add 15 to consolidation area at 17.50 and you get potential upside target of 32.50...I don't think we will see the target from your pattern, unless you get more of the same volume as you had today...Personally, I think the overhead will stop this one as it approaches 27.62 area...