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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: johnsto1 who wrote (34464)	9/12/2000 1:50:37 AM
From: Mark Konrad	Read Replies (3) \| Respond to of 57584

ICGE...will not go much lower, if at all, and here's why: Using closing prices on a one-year chart there is a mild uptrend support line from the May lows to present at about 30 1/2. Additionally, there is lots of recent horizontal support right at 29-30. Although slow-moving stochastics are still declining from overbought levels at 40 a week or so ago, they are now in an area where they could begin to reverse to the upside without immediately triggering an overbought condition again. Macd is essentially neutral, as it has been since early June, and therefore suggests the channel activity between 30 and 40 will continue. For almost 4 months now ICGE has been a picture-perfect trading stock: buy at 30, sell at 40, buy at 30, sell at 40, etc. One of these days it will not stop at 40 or 45 but will continue to the upside. The optimal strategy, then, is to trade multiple positions...holding at least one cheap position from 29-30 for the home run while trading at least one for regular profits (to purchase quality recording equipment and grain-based beverage products, of course!). I am a buyer of ICGE in the 29-32 range. For further information on other stocks I track, refer to post #34385 from 9/11/00 for a full "TA for Boneheads Update." All in my opinion; hope this helps, j1--MK--