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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: wbadger who wrote (676)	1/10/2002 3:51:20 PM
From: Dave Gore	Respond to of 16631

Badger, let me try to have a look after the market closes on MAXY. <eom>

To: wbadger who wrote (676)	1/10/2002 4:49:57 PM
From: Dave Gore	Respond to of 16631

Badger, the MAXY chart is sort of interesting showing that it is near the lower Bollinger support band on the 1 month chart@about (15) and well below the upper band @about 21.75. However the 10 day chart is perhaps much more indicative of what is going on, because the momentum and money flow has been negative for the past 3 weeks or so, after being positive from Late Nov. to early Dec. On the 10 day chart, the upper and lower Bollinger bands have tightened considerably to about 15.70 and 16.60, so the stock is almost right in the middle of a tight range. That means to me that things are inconclusive right now and negative if momentum and money flow don't turn positive soon. The other thing is this. Because this is a highly speculative and momentum driven stock with no earnings, the chartwork is less reliable, IMHO. Also, I am far from the one to give advice, as I am not an accomplished chartist. You would be unwise to invest in this stock based on T/A, IMHO. Good luck and remember you can watch the money flow and momentum easily yourself per my prior post on charting.