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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Dave who wrote (66800)	10/20/1999 5:20:00 PM
From: Bryan	Read Replies (1) \| Respond to of 90042

I disagree with your assessment of a trading range considering that CS has only tested those two points once in the last 6 months. How did you come up with them?>>> Hi Dave, Sorry, I guess I shouldn't be so facetious all the time. For the record I DON'T consider CS $14 to $20 a range. And I was commenting on $14 and $21 from somebody else's post. Also, the TA has changed somewhat from the last time I bothered to pay any attention to it. Looks more like a triangle formation now and an impending breakout which will bring us back up to the $20 high or down to $11. I was looking more at the series of moves after the consolidation period that occurred between $12-$16...using $11 as the base and $16 as the resistance (during the consolidation from mid May to beginning of Sept). What concerned me the most was the quick pace of the move up and that we were not matching the same pace on the way down. I was actually suggesting that the bid-side interest was helping to prop up the stock. Message 11640 You can connect an upward channel by the three low points going up the graph since then. >>> I do see that but I believe CS will stop dead in it's tracks at $11 if it breaks $14. I put more emphasis on a pivotal level like $11 because from Dec last year there is an exhaustion gap down through $11 and then in the months following, it topped out near $11 three times before breaking up. There was a confirmation of the support in August and from that point it's been up ever since. Any significant break below $14 would make me nervous. >>> I'd be more concerned about a close below $11 before getting really nervous. No joke. Good Luck bk