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Non-Tech : APCO Automobile Protection Company -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (869)	1/26/1998 3:16:00 PM
From: Redhead	Read Replies (1) \| Respond to of 3351

Doug, Could you explain what you mean by ""before any consolidation is necessary"" . thanks Red

To: Doug R who wrote (869)	1/26/1998 9:55:00 PM
From: TATRADER	Read Replies (5) \| Respond to of 3351

Hello Doug, I am a pure TA trader, and I like to follow people who have trading abilities that I can learn from...I consider you to be good at what you do, and so I hope you don't mind having another student........Two days ago on another thread I was asked about this company, and I mentioned to danny brown, I saw a pullback to the 6.36-6.43 level.......Looks like so far so good on the call...Yes, you have a strongly trending stock, and I don't disagree with its long-term potential, but I am a short-term trader.. Here goes: 1)The steep upward trendline of this stock was broken by 3% from the 7.50 level...Any retracement to 7.50 at this point should be repelled...Yes, you can argue, "Mark, move back in time and the trendline sits at 7.00", definitely possible." 2) The overhead of this stock in the 7.25-7.50 area sits at 3 million shares...You have taken out about 629,000 shares of the overhead... Unless you drum up some volume quick, this stock will be a trading range stock for the time being... 3)+D1 sits at 25 and -D1 at 18...an uptrending stock, yes, but the ADX sits at 23....As you know a strongly trending stock should be above 30..This ADX has gone from 24 to 23 over the past week... 4) The stock has entered the envelope channel from 7.03 to 6.36..... Same holds true with Bollinger band reading from 7.17-6.21.... 5) On 1-22-98 the stock had volume of 276,000 shares....It did not close at its high but closed at its low...This smacks of distribution.. 6) The last time the stock hit 7.25 the Relative Stock reading was 66.15 and 62.447 This time when it hit 7.25 the reading was 63.7674 and 62.41... Lower peaks tell me there is less strength on this upmove... 7) The Ultimate Oscillator on 1-23-98 was down to 58.349 while price was up...This as you know is a bearish divergence... These are just a few of the reasons as to why I called a consolidation phase on this stock...Yes you have a flag pole pattern, and it looks like the flag is descending which is good for the stocks long-term picture... Regards, Mark P.S. Would like to be educated on money flow indicators.... Are they used in the same way as other oscillators? Look for higher or lower peaks, 0 line crossovers, divergences with price?????thanks for your help...... P.S.S. Students like to challenge their teachers.....