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

To: ivan solotaroff who wrote (9380)	12/17/1997 4:33:00 PM
From: Dave H	Read Replies (1) \| Respond to of 79378

Ivan, It's hugging the acceleration line, but it is closing below it, so we can see that it's meeting resistance. Notice that the last 7 days have had lower highs & 4 days of less volume, & 3 days of higher close. This is IMO major divergence! Some sort of triangle is forming, that's for sure, and we probably will see a big move either tomorrow or monday. That volume has all but dried up! RECY trades 300k a day on avg the past 3 months, and today barely got over 50k. No uptrend can be formed with such low volume...it would seem to me that everyone who wanted to buy recy at these "low" prices has done so...no more buyers left. i'd bet there's a lot of short selling going on, which would keep the bid up, but since there's no more buyers, the ask keeps on having to drop... I stepped away from the short since i don't have enough experience with them, and I'd be too nervous watching it play out, since we are looking at a major move coming up and it could go up...but I think this ones gonna go down given the large amount of TA that seems to support it. The fact that the accelerated trendline was broken (and boy is that confirmed now!) means that at least some people in the know, whether right or wrong, think the company can't meet the same growth numbers in the near term that allowed the original acceleration line to form in the first place. Yes, RECY for the long term, but I'd rather wait for a valid uptrend/breakout (meaning with volume confirmation) before risking further downside loss. The best support line I see right now is at around 4 1/2 right now. I don't think RECY would settle there, but we could see a bounce on that line before heading back into the 5s. I got slammed today by AMZN, PIR, and APCO. I dropped AMZN since it broke the recent trendline I had been watching; I added to PIR since it did a beautiful bounce off the acceleration line; added to APCO though I actually am worried about this one since I'm not sure the reaction to hitting the IL is over. Still holding AMVC, looks like the move in some direction will be tomorrow (at latest monday). Essentially no volume, don't know whether to be worried or not. Hoping the two trendlines move this one up. Oh, and I shorted RADAF for the third day in a row -- I actually got a small order filled at 19! Got out at 17 1/2. Gotta love that IL. -dave

To: ivan solotaroff who wrote (9380)	12/18/1997 2:07:00 AM
From: Doug R	Read Replies (1) \| Respond to of 79378

Ivan, ">>>the beginnings of a new uptrend (higher lows for three days, though that was broken today). If I had to give it a technical recommendation, it would be: Hold For 15-minute intervals.<<<" You're terrible!! LOL!!! Doug R