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

To: Roebear who wrote (1550)	11/25/1997 12:56:00 PM
From: Jeffery E. Forrest	Read Replies (1) \| Respond to of 4571

Hi Roebear. My TA really wouldn't have helped much. It was looking pretty much neutral. As I had posted WAAAY back, I figured a JV announcement was good for a 2 dollar stock and that's where I had my sell point set. Sold everything at just above $2 with intentions of rebuying at the 1 1/2 range. After seeing how it acted on the JV news though, I have had second thoughts. It formed a big fat "Shooting Star" formation that day and then followed up with two Black Candles. This does not bode well. The intraday chart on the day of the JV announcement was downright ugly. It was getting dumped as fast as the new money could buy in. I think the worst part of the picture is how we couldn't hold above 1 1/2. That should have proved to be a pretty good place to look for support. Now we can't even hold the old support levels of 1 7/32-1 9/32. I haven't given up on it, but will remain on the sideline for a bit until it shows some signs of strength. What we have now is a whole lot of "impulse buyers" that are holding a stock that they bought from 1 1/2 - 2+ and are probably feeling a whole lotta "buyer regret". These guys are weak holders and will most likely dump the first chance they get. I'm glad to see that you were smart enough to take profits. Do you have any postion at all now or are you on the sidelines too?