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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 (10076)	1/5/1998 2:32:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79180

Ivan, ABTX?? Will do. Doug R

To: ivan solotaroff who wrote (10076)	1/5/1998 2:54:00 PM
From: Doug R	Read Replies (4) \| Respond to of 79180

Ivan, Bingo! I get a parallel IL/ACT (or is that ATL?). That's a good indication of validity for the pair. ABTX is up there in the thin air alright. Looking for drop to approx. 13 1/2. Current IL value is 16 7/8. Since the price started to drop below it last week but gapped back up over it today, the struggle with the IL is a real knock-down drag-out affair right now. Exuberance is definitely irrational here and there's not yet a clear sign that the thorazine has kicked in. A good TA tonight should tell me more. There was alot of 56er buying of this one going back many months, before the POW days. Now if only Joanie and others aren't too attached to it they can hop off and short it then cover and jump back in and really get a good start to '98. Doug R

To: ivan solotaroff who wrote (10076)	1/5/1998 6:54:00 PM
From: Esteban	Read Replies (2) \| Respond to of 79180

Ivan, Doug, Dave and all feline aficianados: PGDCEB report. No new gappers to monitor for PGDCEB signals today. No new signals from the current list of candidates, to my knowledge. Current live cats (have given recent signal) are SGI, OXHP, QUAL. This is probably a good point to look at the charts of these 3 in our pursuit of a viable exit strategy and see how the concepts we've been discussing and developing lately would have faired. SGI SGI daily chart: Accelerating trend line broken today, but not on a closing basis. Prices crossed above the MEEP (downtrend drawn from 10/6 gap day through 12/8 minor high) today. According to Ivan's MEEP theory as I understand it, this is a positive sign. However when the signal day (12/29) is well below this line, failing to break the MEEP or just barely breaking it can be a sell signal. SGI intraday chart, 15 min. bars: uptrend line from 12/31 @ 11 15/16 through 1/2 @ 12 9/16 was broken today. Prices moved to the lower Bollinger band (13 period) and barely broke below RSI 30 (13 period) before rebounding slightly. New uptrend line now in place from 12/31 to 1/5 @ 12 9/16. Here are the likely results of using some of the exit strategies that have been proposed lately on SGI. I'm not implying that any of the mentioned stalkers would or would not have followed any of these strategies. 1: Valid exit today based on Ivan's MEEP touch or Esteban's intraday trend break or Doug's daily trend break @ 12 3/4. This is the first day that the trendlines have been broken, so this is the first valid exit point we have encountered. (Discounting intraday trend breaks during first 2 days or until the stock gets rolling that are not accompanied by a breaking of horizontal support.) 2: Still holding with a close stop in place based on Doug's RSI and BB theory, that is if Doug applies this theory to a cat that is 4 days past the signal day. Do you Doug? 3: Still holding based on Esteban's combo of intraday diagonal and horizontal support lines with close stop in place. That is if Esteban applies this theory to a cat that is 4 days past the signal day. Do you Esteban? <g> OXHP OXHP daily chart. The daily accelerating uptrend line will be broken at the open tomorrow unless there is a gap up open. The MEEP is not a factor, having been broken through on the first post signal day. OXHP 15 minute chart. The current price action is well above the uptrend line in effect from signal low through 12/31 at 15 1/2. This may allow too much room at this point so an accelerated line can now be draw to trace 12/31 through today's 17 7/8. This line is very steep and its violation should only be considered important if the horizontal support of 17 7/8 falls tomorrow. We are tight to this line at present, in the middle of the BB range at a neutral RSI reading. 1. A valid sell signal will be generated on the open tomorrow unless there is a significant upside gap by Doug's daily accelerating trendline method. 2. Still holding based on Doug's intraday BB and RSI method. 3. Still holding based on Esteban's intraday trendline support method. QUAL QUAL daily chart. Uptrend drawn from the signal low was broken today. The MEEP was broken early in the bounce process, and if it is a factor now it is in the form of support. QUAL 15 minute chart. The uptrend from signal low through 12/31 @ 12 3/4 was severely tested today, but still in force, IMSO (in my subjective opinion.) BB was broken and RSI went to 0. Prices closed in the middle of the BB range and RSI rebounded to neutral. 1. A valid sell signal generated by Doug's accelerating daily trendline estimated at 3 15/16. 2. Still holding via Esteban's intraday trendline support method. 3. A probable sell signal generated by Doug's BB and RSI method, again at 3 15/16. I hope this post sheds some light on the various methods we are looking at in regard to exiting from a PGDCEB. Any discussion of these specific charts is welcome. Please continue to present your ideas for trading the PGDCEBs. Esteban