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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: john rieck who wrote (26224)	7/29/2000 9:04:34 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

John, The OSX is producing LOWER LOWS and LOWER HIGHS, but the slope of the decline is slight and is giving a hint that it may be forming either a BULLISH FLAG or BULLISH WEDGE. Whether it is a FLAG or a WEDGE, they are sharing the same LOWER TRENDLINE which is slightly declining and is around 107 for next week. My mid/longer-term technicals are in the midrange, so no clear direction from them. Sept CRUDE futures appears to be near a short-term bottom and there is significant horizontal support around 28. However CRUDE is also on a decline similar to the OSX. If CRUDE breaks below the 28 range significantly or the OSX drops significantly below that LOWER TRENDLINE that would be a significant negative and would suggest then that the position should be hedged or closed. For the short-term, there is a little more upside potential, I only said potential with resistance for next week around 118-119. If it gets to the 118-119 range my short-term technicals will probably be in the overbought/class sell region seeya