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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: p.r. who wrote (7134)	1/13/2006 9:55:31 AM
From: chowder	Read Replies (1) \| Respond to of 13449

Re: PLUG ... PLUG is a bottom fishing stock. The buy and sell strategies I apply don't fish after laggards. There are times, like ANSS yesterday, that presented a compelling case to buy a laggard. PLUG doesn't do it. You must have some story you believe in or something fundamentally that is driving your motivation to look at this stock. There isn't anything technically, at this time that should warrant a buy from the long side, even if it goes up for a day or two. Price is heading into a declining 20 week moving average and this should provide some resistance in this price range. Technically speaking only, buying PLUG is buying hope. You must have a story you are looking to confirm technically. It could work out if PLUG will show a high volume day that takes price above the declining 20 and 40 week moving averages. That would change the character of the trend and confirm a near term bottom is in. stockcharts.com[h,a]waclyiay[d20050113,20060113][pb40!b20!f][vc60][iut]&pref=G If looking for W formations, they are more reliable when they form off tops, not bottoms. dabum