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

To: Instock who wrote (4362)	12/16/1997 1:42:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 4701

DANKY Gets Dunked... >>>( DANKY Short Sell ) Danky dropped like a rock this AM on BAD earnings News. Is there anyway to figure support and resistance with a large drop as it has done. I got in at 13 1/4 short sell. Trying to figure where and which way its headed. I figure maybe 12 1/4 before Short Covering and Long positions start the price back up some. If you could take a quick look and tell me what you see, it would be greatly appreciated.<<< ********************************************* Scott: There is tiny support at 12 3/8... Then there is another tiny support area around 9 3/8... Then, there is a steep drop... Depending on your nerves and stomach, you have several options... The Caveat... Even with reduced EPS est to about 1.16, a P/E of 20 takes the stock to the 20.00 area... Jim