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

To: JK who wrote (4258)	1/30/1998 3:32:00 PM
From: TATRADER	Respond to of 7396

JK, you are right about JMED being just about oversold....But I am playing a longer term pattern here...Take out your chart and go back several years on JMED...You will observe a left shoulder, a head that goes to 50, and two right shoulders, one around 45.00 the other 40.00 a share....Take out your simple stochastic, note how the third peak is much lower than the other two...(I am talking about the price on 12-02-97, 12-30-97, and 1-23-97)The price was around 40 on the 3rd peak when the other two, the price was much lower...Shows me a loss of momentum...Note how the stock seems to be forming a rounded top... I am staying around on this one for a while...I have a minimum target of 20.00 a share over next 3 months....Regards, Mark