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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Henry J Costanzo who wrote (193604)	8/28/2011 9:54:20 PM
From: jjstingray	Read Replies (1) \| Respond to of 209892

POT - While our opinions are going to differ Henry, I have a very difficult time seeing your "downtrend" on POT. It looks more like a consolidation/channel after a very sharp move up. It looks like it has been in a very large A-B-C off of that high in mid February. It has climbed very aggressively back above the 50 and 200 day averages and with the indicators pointed up, it looks like it could be in the middle of a wave 3 move off of the lows of a couple of weeks ago. Not only that, but in light of the major meltdown the averages have seen, this stock is down about 8%, or $5.00 10% from its highs. I hardly call that much of a downtrend. The S&P is down about 15%. I would say this is a fairly strong stock. This week could be a very telling week for a number of stocks out there, POT just being one of them. Jeff