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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: LzzrdKing who wrote (3600)	12/30/1997 8:16:00 AM
From: TATRADER	Read Replies (1) \| Respond to of 7396

Lzzrd, the reason I challenge traders on their picks, is because that is the way you learn....I have to know what is going on inside someone's head, so I can ascertain whether anything they know should be implemented into my trading strategy......Otherwise, a good trader like yourself or NH20 will just list their picks, and I don't learn anything..O.K. here is a quick take on ITEQ, and why I feel you are wasting your time on it...Let me make something clear, hungry fund managers are going to want to stick IRA money into stocks come January...They obviously will look for stocks with good fundamentals that have been beaten down....So, I agree with you there...That is why MDCO has come to life, and your NTSC, RADAF and others will regain their strength...Hope COBR and SOCR come back, as they are in my wife's IRA... ITEQ....Look at the pattern.....You have two left shoulders and two right shoulders with HEAD sticking up at the 14 level with neckline at 10.00(then you get a 6.00 target).....But I am conservative, and try to take into account Gann-Retracements and Fibonacci arcs, knowing that traders will probably cover sooner rather than later....As you know technicals give an earlier picture of the fundamentals, and that is why I am a pure technical trader....True you have major support at the neckline which I have pegged at 10.00...Support stands from 10.00-10.36....But this stock is technically sick...Your +D1 is at 12 and -D1 at 30 with strong ADX at 36.....Further, if you get a January effect this stock will stall in the 11.75-12.25 area....So I have it pegged in a trading range from 10.36-12.25 until it breaks the neckline at 10.00....Give me 60 days from today....If I win, I will send you my address and you can mail me a $10.00 gift certificate to Wendy's...If you win, I will send you a $10.00 gift certificate to your favorite restaurant....Deal??? Regards, Mark P.S. This is the only way I can make a little extra money on the side..