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

To: TATRADER who wrote (4070)	1/23/1998 2:55:00 AM
From: Cary C	Read Replies (2) \| Respond to of 7396

Hello Mark, its been a long time since we,ve talked (DBDY days). I have always admired your TA capabilities. Especially your ability to peg overhead resistance. I am confused about two things and was wondering if you could help me out and explain them to me. 1.>>If i calculate right there are about 3 million shares of overhead in the 7.25-7.50 area.<< Durning APCO's run over 7, it appears that approximately a total of 850k shares were traded on both the buy and sell. How did you arrive at the 3 million shares figure? 2.>>In my opinion when we moved up today,it was selling that occurred not buying...<< If it was selling why did the stock move up? wouldn't it have moved down? I'm sorry if these are stupid questions. Any help you can give me would be greatly appreciated. I do own APCO and am very bullish on it. Fundamentally speaking the company is very sound. No debt, 22 million in cash and expect to grow at least 30% next year. Last three quarters the company has grown at 40%, 34% and 45 % with anticipated 4th quarter earnings of at least .08(concensus .07)due out shortly. Recent exclusive agreement with Sonic Automotive should really start effecting the botom line in the first quarter. Thanks again for any help you can provide me. I'm trying to learn this TA stuff but I'm afraid so far I'm a fish out of water. Cary PS: It was nice talking to you again