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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (9086)	12/9/1997 11:55:00 PM
From: Dave H	Read Replies (1) \| Respond to of 79685

USBG Ken, thanks for bringing it back to my attention -- tomorrow the major downtrending line that connect USBG's four major tops in its whole history back to late 1996 intersects the support line at 1 1/4. If USBG can bounce off 1 1/4 without breaking it (except perhaps to 1 7/32, but no lower; this represents a more recent support line...) and close higher on high volume, I think we would have confirmation. I'll take a look at PUTT when I get a chance and let you know what I see... -dave

To: Ken W who wrote (9086)	12/10/1997 12:23:00 AM
From: Dave H	Read Replies (2) \| Respond to of 79685

Ken, PUTT looks to me like it's losing steam -- notice that many days during the last couple weeks PUTT has closed higher on lower volume -- not a bullish signal. PUTT might find the .41 support level before being ready to take off again. re: dMAs being in alignment -- remember, that's only one piece of the puzzle; it's not the most important thing by any means, but it is definitely important for a stock that looks to be in a sustained uptrend to have the dMAs in alignment. PUTT only recently pulled the dMAs into alignment. That's a really good sign, but now that they are a bit spread out, look for continued consolidation before the next leg can happen with any real momentum behind it. Notice how all the MAs were really bunched up before the last breakout....right now there's a lot of profit taking going on and lots of overhead resistance thanks to to runup to .84 intraday last month. I'd be cautious about this one.... -dave