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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jane4IceCream who wrote (28401)	4/2/2002 9:53:09 PM
From: Ken W	Read Replies (1) \| Respond to of 29382

Jane PALM can be a very frustrating stock. Notice the gap down below on this chart? 216.129.217.2 I've found that any stock or index CANNOT sustain a price above any two moving averages when the faster average has not crossed above the slower average. PALM's price is presently above the 200dMA but the 50dMA is NOT above the 200dMA....soooooooooo IMO the gap down there at about 3.20 will get filled. PALM snookered me when it went from 3 to above 4 so fast, but I did make it up on the 3.60 to 3.90 trade. I won't mess with it again until the gap gets filled. NXTL is going to have a hard time due to the 1.6 billion charge against earnings. Watch the weekly 200 moving average for low ball support. It worked the last time at 4.50. Ken