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

To: Ron Pratt who wrote (18901)	6/6/2002 5:46:33 AM
From: lee kramer	Respond to of 26752

Hi Ron...I agree with your analysis of WEDC...but only as a 'trading' bottom. The stock ran from 6 to just under 7, almost a 16% move. Looking at the weekly chart, the stock may have put in a re-accumulation bottom but until we see a series of higher highs and higher lows it's too soon to assume the stock is in a new mark-up phase, (an up-trend.) FINL is in a clearly defined downtrend though it has not follow through on the downside six times on the daily. It may be a trade with a buy as close to 14 as possible with a stop under 13.70. To me this would be a fairly low risk trade. You might take a peek at the monthly, weekly, daily chart of EMBX. The stock is making new all-time highs in a vicious bear market. Stocks that are in new all-time high ground are a "sector" that is often overlooked. Just a thought. Ok, Go Lakers, but better yet, GO RED SOX!!! I'm opening my own trading room soon, and I'll work with only 25 traders, the most I can work with. I'll send you the details in case you have interest.