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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Connor26 who wrote (7619)	1/9/2002 9:27:32 PM
From: Susan G	Read Replies (1) \| Respond to of 26752

Hi Connor, you asked me about CFLO earlier and i was just looking at the chart so here goes. I'm still holding it, it's one of those "sitting on egg trades " that Bob and I love <g> like IMAX was, we bought that in December and waited. home.earthlink.net I will not hold it if it breaks 2.63 unless it only breaks it momentarily in a slam. It was starting to drop end of day today, and held support - and its uptrend line from September when a block at the close brought it right back up. It's also getting pretty oversold, has sold off on low volume and has made quite a snap back move each time it's gotten really oversold. Not a pocket rocket trade though, although it has been at at times in the past, it's one of those you just have to tuck away until the day it hatches <g> And if never hatches, out it goes! Re: your IDNX - it broke the 200 MA on the 60 min chart, not good, that's important support. Next support is the 50ema daily at 11.17, after that there's a little support at 10.65 and around 10. The only strong support I see is around 9.20 to 9.24 where it gapped up when it started it's parabolic move. Just like INVN, when parabolic stocks break down they really sell off hard : ( The only exception seems to be the ones with incredible earnings and low floats. Like GNSS, OVER and a few others. So if there is no snap back bounce in the am tomorrow, you may want to bail so you don't have to ride it down to the next support level. It is really oversold now on the daily chart, so it may snap back if the market does!

To: Connor26 who wrote (7619)	1/9/2002 11:20:40 PM
From: Susan G	Read Replies (1) \| Respond to of 26752

Another ugly BEAS chart. Yesterday's was ugly too. Because if you chased this thing today, and didn't get out before that bearish reversal you were cooked. home.earthlink.net All stocks return to their 20 ema sooner or later after a parabolic move... I won't touch this again - long or short - until it finds a new support level (most likely a strong support level from a year or so ago) and bases for a while. It's too bad, I love the stock. A few weeks to heal at least, as a lot of damage was done to a healthy chart that was putting in a good long base for a healthy move up. If you chased this thing today, and didn't get out before that bearish reversal you were cooked. And there was no bounce to get out once it broke down. No short term support, whatsoever!! nothing but parabolic emas to hold it. That bullflag the past two days was deceptive, as usual, as it must have looked to many that it might head down to fill a gap - or two. I'm sure the shorts were all over it at yesterday's close, which was why I though it was nothing but a short squeeze this morning. The first one, the breakaway gap may go unfilled, but I would not be surprised at all to see the second one fill, bringing it back to 19 even if just for one moment during a slam. 20 might hold for awhile, as even numbers are often psychological support and resistance. That first gap up may fill eventually, but from a higher level like it did last summer. I will never forget being told by a trader on SI, when BEAS was at 80 that it would, eventually go back and fill a gap around 20. I laughed, and said no way. They were so right, It filled that gap and went to 10. What a lesson!