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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: brogan who wrote (18903)	2/17/2000 8:19:00 PM
From: Ken W	Read Replies (1) \| Respond to of 29382

brogan: "how do you arrive at a target of 8" siliconinvestor.com This is a very long term view of the stock Eric. Pring has this little trick in his book for getting a general idea of where a stock may go on a strong move from a long base. If you draw a diagonal line from the high of near 17 way to the left of the chart down to the all time recent low of .87 then draw a vertical line from that same low in about the middle of the base up through that diagonal. Now, Pring says that there is a better than even chance that the stock will move 50% of that distance from the low to the high on a long base break out. Which looks to me to be about 8.87. The big trick is for the stock to close above 2.50 on strong volume to break the long term MA. That MA is confirmed by the shorter term MA of 2.46 which is where the stock hit its head on today. All of that being said, the company needs to come out with some things to help the stock move over that point....and it sounds like they are about to do just that. Ken