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


To: bazan who wrote (11155)9/16/1999 8:05:00 AM
From: MskiHntr  Respond to of 59879
 
Good morning, here are my thoughts:

To: Chris Abellera who wrote (744)
From: MskiHntr Wednesday, Sep 15 1999 10:14PM ET
Reply # of 745

You've got a few more shares than I have Chris, and I share your enthusiasm. But, don't underestimate the power of market psychology. Fear alone could move this one back under 15, but I'm willing to weather the nervous selling by the weak holders. The general market today was a horror show with the SPX finishing on its low; tomorrow's opening could be the reverse of today's: due south.
When this one gets going, I think, based upon the rectangular base it just broke out of, that a target in the high teens/low 20s is doable, if the market cooperates.

EDIT: Upon closer inspection the chart pattern looks like it resembles a Head & Shoulders bottom, see:

timely.com.