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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (11837)	11/16/1999 11:24:00 PM
From: Casaubon	Read Replies (2) \| Respond to of 14162

Here is something to look for: When the price explodes on huge volume and then the stock starts trading a lot of volume at one price, watch for the price to start moving down. This is more like what happened to IFMX. There was a crossover of the 50 day moving average above the 200 day moving average. Also, the OBV had gone pretty much vertical prior to today (without a concommitant spike in price. No, I didn't consider the $2 move off support to constitute a price spike). On top of all this IFMX put in a two year inverse head and shoulder bottom. Today was the punctuation that the bottom was finished and a new uptrend began. This stock should be accumulated on pullbacks, IMO. There is still plenty of upside to go. I think the $9 was a horizontal resistance area, not the neckline of the inverse head and shoulders. I think the neckline occurs at $13.