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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: GERI EASTER who wrote (882)	1/19/1998 2:16:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 18691

Gerri on PKT, I see where you might observe a double top....You have the top of the double Head around 24 with neckline at 22.00...I see something else that will not change the technical picture........I lean toward a rectangle pattern from 22-24.....The envelope channel and Bollinger Band confirm this idea... Envelope Channel 21.70-23.99 Bollinger Band 21.94-23.74 To determine where the strength of the trend is leaning as you study the rectangle, do a 3,5, 10 day volume study on the stock when it approached the top of the pattern in the past, and then do the same thing as the stock approached the bottom of the pattern in the past... I would short this one either as it approached 24 or on a firm break from 22.00....Always set buy stops once you have entered your position to protect yourself, if you are wrong....That is always a challenge since many watch where these are set, and sometimes like to take them out....Regards, Mark