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Technology Stocks : FORE Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Tom Latham who wrote (7028)	1/2/1998 11:41:00 AM
From: Ed Frye	Read Replies (2) \| Respond to of 12559

FORE's On-Balance Volume (OBV) is very bullish. OBV normally moves in the direction of the prevailing price trend. This is a direct reflection of increased volume on the buy side on the way up and increased volume on the sell side on the way down. When OBV does not move in the direction of the prevailing price trend, a divergence is created. Low prices and increasing OBV = Bullish Divergence. FORE's OBV droped off steeply in feb/mar concurrent with the "GREAT FALL". It didn't pick up again until August, concurrent with a significant end-of-summer price rally. Since that time, OBV has steadily, albeit gradually, continued to climb, recently reaching new post-feb/mar highs, while price has trended downwards. This represents a BULLISH divergence. It tells us that despite a much greater number of down days than up, total volume on down days is less than total volume on up days =====> ACCUMULATION. There can be no doubt that ASIAN fears and tax loss selling brought about the recent extended decline to drag us below 15. More recently, a bottom was established, volume has begun to pick up and the price trend has reversed. This is bullish. The candlesticks need one more strong white candle to confirm the reversal. Yesterday's candlestick, although similar in appearance to a shooting star (which is bearish at high prices), is an inverted hammer at low or declining prices = a signal to the bears that that the bulls are attempting to gain control again.......ed