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Strategies & Market Trends : Charts With An Attitude; Trading In & Out -- Ignore unavailable to you. Want to Upgrade?

To: Dave H who wrote (3982)	11/23/1997 11:29:00 AM
From: ivan solotaroff	Read Replies (1) \| Respond to of 4701

CADE "Sometimes it's important to look at the big picture; could daily MM action really bring the stock down from about 3 1/2 to about 2 1/2 (29%) in about 7 weeks? Maybe." Dave, No way. The 30% drop, as you clearly believe as well, is IMO the stock itself, failing to react to good earnings news--or as Sergio points out, earnings news that included a clear problem with margins. The two-month trend is definitely ugly, no doubt about it. My "analysis" (it was really just a meditation on the chart, based on tick-watching last week) is only for the next few days. As far as I'm personally and practically concerned, if the trend reverses for a few days, I would not rule out selling within ticks of what I would guess to be the top of the reversal's reversal, rather than wait out another two-week slide. And whereas I think there were very few shaken out last time, I think I'll have company this time. The Thanksgiving-shortened week might be the catalyst for me. Ivan