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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (9303)	2/2/2001 6:48:35 AM
From: Bernard Ng	Respond to of 11130

Chris, what are you talking about, I'd better tell you am I holding now, so you can get in, and they will all move up like LVCI and ENPT. For LVCI, as usual, I like to talk about wedges, so the rising wedge actually said that the stock will drop below $2 after the downside breakout. The wedge or the pennant (depends on the scale you use to chart) was actually part of the bearish trend, it acts as a bounce, then more sell off. However, it somehow managed to stay at $2. Then baammmm, you have a good day on Wednesday (a hint), then follow by the explosion on Thursday. The fail of chart pattern (OMG), then LVCI closed above 2.75, the last significant resistance (a good sign to play the MOMO tomorrow morning). The stock is sort of overbought, but not totally overbought, we might still see some upside action tomorrow morning. The real upside action comes after the $3 break above. On the other hand I will short it below 2.5... ggg, why am I keep looking at the short side... the dark side of Bernard LOL. ENPT, it has reached once again $5, a pretty freaky point for this stock IMHO, usually most action will happen from here. We have a consolidation here by looking at the little symetrical triangle. Then here we get the break above, bullish. If it goes above 5.25, the real upside action will happen. If it gaps down, we should see $4 again. Hope this helps... if not too confusing LOL Bernard