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Strategies & Market Trends : WELCOME TO THE CATHOUSE -- Ignore unavailable to you. Want to Upgrade?

To: ivan solotaroff who wrote (300)	9/28/1999 9:03:00 PM
From: Danfan	Read Replies (3) \| Respond to of 1065

Ivan... Fine....I'm out of the big blue closet. (Wait till my parents find out<g>) Anyway, I agree with you on both PETM and ZONA....what are the odds anyway. And here's the reason I agree. ZONA. I assume the false signal was 9/15. An evaluation of the 30-min chart shows a steep steady downward flight till an eventual low close to 2:30 that afternoon. Note also how it bounced off the 3 dollar barrier, but not too early in the day. There is no "trampoline" look to the day. Today's 30-min chart shows constant pounding of the 3 dollar barrier (or just a teeny below) from 12:30 on....a steep drop which stopped as opposed to a steep drop which continued on 9/15. Note also the volume increase during the last 30 min today as opposed to a volume decrease on the 15th. Couple that with a kind of forshadowing which took place on the fifteenth, showing that 3 bucks is possible, and a kind of future barrier, as shown today. As for PETM...let's observe 9/1. Enormous drop at the beginning of the day with a modest rise throughout the rest of the day. (I have to use 60-min charts here, my software does not go back that far). There is no bounce here. I personally think that 9/8 gave a better signal from an intraday standpoint, but I didn't like the way it ended near its high. Now, check out today, 30-min. A constant bounce starting very early on in the 3.3-3.4 range with a slight increase in volume during the last half hour...a kind of stamping of the foot for three hours before finally ending just above the low. Not as perfect a signal as I have seen for them...but I'm still developing criteria. I'm pretty certain 30-min charts can help you quite a bit here. Of course if neither one winds up being a signal, than I'm just flogging the flute here, I guess. We'll see. Danfan.