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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE -- Ignore unavailable to you. Want to Upgrade?

To: Carole who wrote (963)	12/30/1997 5:49:00 PM
From: Dave H	Read Replies (1) \| Respond to of 2377

Carole, In my opinion, low volume is only a concern if the stock violates a trendline. I'm also suspect of large price increases on small volume. SRSL is creating a nice horizontal support line at 7 1/2. But I wouldn't even be that concerned if it broke through that line briefly, as it really needs a breather after the tremendous fast gain it had the prior week. TC2000 BOP is all GREEN which is showing strong buying during this resting period -- a good sign. Right now there's just a good a chance for SRSL to break down as to break out since the only valid uptrend line is way down at about 5 3/4. All this says to me is that SRSL isn't a buy yet. But if it takes out 8 on double-triple+ volume, that to me would be the buy signal. Even if SRSL bases a few more days, the downtrend line will come closer...this is going to be the most probable course of action...the stock will have a small trading range until the downtrending line forces a decision, either up or down. I see that happening in a week or so, but maybe sooner. Also, when volume dries up, that is another indicator that a major move is about to take place (direction unknown though...) let's keep an eye on this one... dave