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

To: freelyhovering who wrote (677)	1/31/1998 4:11:00 PM
From: Al Greenleaf	Respond to of 836

Gosh knows I'm not a "serious people"!! <gg> Here's my input: (Based on Greenleaf theory that short indicators must point up with room to rise, price chart must point up with nearest resistance 30% away, and there is a mandatory higher last low.) PWAV - This stock is NOT in an uptrend. It is also near the top of it's channel in the downtrend. While any upturn could be "it", there is no turn showing on the LT stochastic or 90 day OBV. The long macd, DOES show a higher high in the indicator. Volume has been increasing nicely. Short term, the OBV IS above the 18 dma, Money Flow is less negative, and the RSI has risen, then flattened out, which it has done before. Short macd is well under zero, and is not rising. Stochastics 13,8,8 is rising, and is at 20. Relative strength is dropping and ROC is dropping. TC's moneystream and bop are positive for the last two days, but this has happened before in this downtrend. TSV's are pointing down. What is needed here is a rise in these indicators, and breakouts above 16 1/2, then 18 5/8, then 22. These moves are large enough to be of interest. There has not been a significant higher low. It is just not time yet. NRMI - This stock IS definately in an uptrend. The chart trend is confirmed by the 3 long term indicators I use. The breakout high of 1/22 is being supported by a basing period currently, which is likely to continue for a few more days, at least. The OBV and MoneyFlow have not deteriorated during this basing. Short MACD and stochastics are a little topheavy. If they come down a bit, while the stock stays the same, this divergence would increase the likelihood that this basing will lead to a further breakout. RS is very good. I do not have this one in TC2000. I would buy this on the first breakout close above 5 1/4. TSCP - While the initial uptrend was broken on 10/27, and has not resumed in a big way, there is new but short uptrend line formed from 12/31 to 1/12. In spite of the shortness and newness of this trendline, the 3 LT indicators have stayed positive even though the stock has pulled back for 5 days. Monday's trendline support is at 9 1/4, and if this is broken, we will have the dreaded lower low. Otherwise, we'll have a higher low, and a stronger trendline and more movement up. OBV is up, MoneyFlow neutral, and RSI is down. MACD and Stochastics have flattened out, but have not crosses signal lines. This stock is at a turning point in the short term. It will probably respect the trend support at 9 1/4 and move up, but I would wait anfd see. There is a tendency for the buyers to jump in quickly when it moves up. There is a problem with the resistance levels however. While is is at 10 1/2 now, there is resistance at 12 7/8. Then again at 14, then at 15 1/4. I like to see room for a 30% move before resistance. That room is not quite there right now. For what it's worth. -Al