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

To: Tech Investor who wrote (3921)	1/16/1998 10:25:00 PM
From: TATRADER	Respond to of 7396

Tech Investor, NTKI, agreed is overbought...One indicator that I watch is the simple stochastic, I watch for when the %K crosses over the %D line...Today we had a crossover...That tells me the pullback should take place within the next two days...Further, we have an ascending flag formation which speaks of distribution...My guess is that the stock tries to climb higher on Tuesday, perhaps gets to the 27.00-27.50 area, and then retreats bigtime...I have potential cover point on this one of 22.50...(a bit higher than the gap)Now a 4 to 5 point score, makes me take a second look...Will watch this one on Tuesday....Hopefully, the pros don't tank it right away but give us little guys a chance to short it at a bit higher level...Regards, Mark