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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Smith who wrote (991)	11/8/1997 5:29:00 PM
From: Ben Geh	Read Replies (1) \| Respond to of 4571

Steve: The two links you provided didn't show that Doug projected any target for BCMD. Where did you get the 9 from? Ben

To: Steve Smith who wrote (991)	11/8/1997 6:33:00 PM
From: DDS-OMS	Read Replies (2) \| Respond to of 4571

Steve, A word about TA: One can have the best TA in the world, but if he's a lousy stock picker, he'll not do well. Pick your stocks well, and using TA to time exits and entrys will enhance results. Making a projection of BCMD hitting 9 when it was trading ~ $1 is not TA--and if he says so , he's blowing smoke up your ... Darlene predicts $10, probably based on fundamentals, the way gold stocks can run, and the knowledge about significant money that can run this stock--and her prediction is as valid, if not more so, than any so-called TA projection of $9. MANY stocks have taken off for a few weeks like BCMD, with charts that look just as good as BCMD's, only to fall on their face again once momentum slows or reverses and interest is lost. TA has a hard enough time defending itself without someone predicting a 900% rise supposedly based on TA. Those successful stock picks you posted--what is the ratio of good vs bad picks? Brings to mind successful prophecies by astrologers such as Jean Dixon--make a hundred general predictions and one or two come true, and these are the ones that are headlined--conveniently forget about the other 98 or 99 that dont come true. BCMD barely has enough data now to try so do some TA on it--19 trading days since beginning its ascent. Bear in mind this small amount of data makes the reliability of this TA questionable. I'm not going over moving averages, stochastics, RSI etc as most on this thread who do any TA or have any interest in it are perfectly capable of doing or getting these figures for themselves-- so I'll limit this to Elliot wave analysis, Gann support and resistance, and Parabolic S&R. BCMD is in a 5 wave up cycle, and is currently in wave 3 of that cycle, with a projected wave 3 high to be between 1 3/4 and 2 5/8. These are Fibonnaci projections, and over the whole universe of stocks that have gone through a 5 wave cycle, has a 75% probability of wave 3 ending between these 2 numbers. Understand that this projection is only a "snapshot" that "freezes" BCMD's price action to date. IOW, whatever happens Monday, it WILL change these numbers if the stock continues to rise. Sort of like raising the bar everytime a pole vaulter or high jumper makes a successful vault or jump. When a wave 3 ends, there is a wave 4 retracement or correction, and if the stock continues in a 5 wave cycle, the 5th wave goes on to new highs..but it's really too early to talk about wave 4 or 5, but FWIW, IF perchance we've seen the high for wave 3 and a wave 4 were to start Monday, the Fib projected low is .75 before wave 5 would reverse it and probably go on to new highs. There is no indication of a wave 4 starting. Aside from EW, using a 2X standard deviation linear regression channel (LRC), BCMD is at the top of the trend channel. The top of the channel Monday is $1.53 Being at the top of a channel simply means an increases probability of a correction which could take it as low as 1 3/32 and still be in its overall upward trend. Optimized Parabolic Support is at $0.91 TODAY. Sometimes, this support is very accurate, and is a rising sequence that continues to rise even if BCMD were to start retracing and do so over a few days, this support level would still be rising--so until and if the price and parabolic support cross, doesn't mean too much. This figure is probably different from any parabolic S&R obtained from software other than Advanced GET, as GET optimizes for each individual stock price action, whereas other software has only one formula that is applied to all stocks--sort of a one size fits all. Lastly, Gann support and resistance. There is only one logical place to anchor Gann lines with BCMD, and that is at the bottom of wave 2 on Oct 13th. BCMD just broke through the 1X2 Gann resistance Thursday, and the next Gann resistance is at $1.57 and the next higher resistance if the first one is taken out, is at $1.698. Stocks usually at least falter when they hit a Gann resistance line, so going on up through one is a signal of a strong stock. An example of faltering: BCMD hit the 1X4 resistance at $1.375 on 10/27 and promptly fell back for 2 days to a $0.969 intraday low before recovering. BCMD is so news driven that any positive news and it will take out the above resistance points like they weren't even there. Here's hoping we take out all those resistance points Monday! Regards, Gary PS Anyone wanting to know a little about Elliot waves: tradingtech.com Click on About Us, then click on Elliot Basics