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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: gravity rules who wrote (13181)	4/9/2002 7:59:32 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

buysell: <<Question is do you cover @ 34 or hold for under 30?>> In the old days I would have quoted Grandmaster Clint to answer your question ("Was that 5 or was that 6? Well, do ya feel lucky. Do ya, punk?") but now I'd like to give you a more sophisticated TA answer. It would depend on how the chart looked once it hit 34. Are the DMA's compressing (or crossing negative), is it becoming seriously (dangerously) oversold, is the stock in serious distribution (or slight accumulation), is the MACD gap getting fatter or skinnier? If it hits 34 and all/most indicators continue negative, then look at the bigger picture, see if you think this will be a full double bottom retrace of the previous 50% Fibo retrace to about 30: stockcharts.com[h,a]dhclyyay[d20010709,20020409][pb10!b50!b200!f][vc60][iut!Lk14!Lb14!Ld20!Lc3!Lf!Lh14,3!La12,26,9]&pref=G You find this by taking the move from about 13 to 46 and then retracing 1/2 of it (I'm only repeating this for clarity's sake, for myself, really), or a 16.5 point retrace. Rounding it off (which I like to do with Fibo, since the numbers can sound so absolute: 16.5471, etc.) you'd expect a retrace to about 29.50 or 30, and lo and behold the last one bounced down to 29.85, just barely, at the end of February. If it looks like it might do a serious bounce at 34, I'm always in favor of ringing up the cash register. In the end, it really does boil down to: do ya feel lucky, with a little sophistication on the side. Kb