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Strategies & Market Trends : 99 RS stocks--WATCH THEM FLY HIGHER AND HIGHER -- Ignore unavailable to you. Want to Upgrade?

To: David Rubin who wrote (672)	1/28/1998 7:37:00 PM
From: Al Greenleaf	Respond to of 836

Yes, it did better than the others! Pullback vs trend reversal: The uptrend defined by the 12/30/97 low and the 1/14/98 low has not been violated. In fact it hugs the trendline better than most. Sometimes long-term indicators weaken before the trendline is broken, but that has not happened here. This chart made a large "W" and is taking off. Expect some occasional pullbacks though because this steep of a line needs a rest from time to time. In the sort term, however, it IS overbought. The stochastic 13,8,8 just crossed over the 80 line, and the RSI is coming down. How much can it come down? Hard to say, but I would expect the current trendline to be broken, and there is support at 24 3/4. It could well come down that much, and still be in a long term uptrend. Regards, -Al