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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: David Fitz who wrote (58)	2/7/1998 12:08:00 PM
From: Wayners	Read Replies (1) \| Respond to of 927

They may be headed down, but there's no evidence yet. I think the trend looks good (up) on both MUEI and PETM for a long position. The trend on MUEI is much stronger and is much more preferable to PETM. I don't think the timing is quite right for an entry. I'd put both on the buy watch list. I think PETM after the dip on Friday needs to show a bottom first and MUEI needs to base out for a few days to get the stochastics down to a buy level which for it will be in the 60-70 range. I really hate PETM too because I shorted before earnings in the fall and they basically made their number and the stock started trending up. I had to bail with a small loss. Very irritating. The lesson there is to not take the earnings gamble on these short term plays. Bermuda Kennel boy link too huh? What kind of music does the band play?

To: David Fitz who wrote (58)	2/8/1998 7:17:00 PM
From: Robert J. Partridge	Read Replies (1) \| Respond to of 927

Hi David, I just found this site, been looking for someone else that uses IQC. Here's my take on MUEI and PETM. Check out the 60-minute chart on MUEI, using Bollinger bands. It's been riding a rising band, with strong support from the middle band. The 60-minute Stochastics is just poised to turn up, from a constriction of the bands. On the daily charts, I also see it riding upwards just below the top Bollinger. For Stochastics, the lines can move sideways at the top (or bottom) for quite some time, and that's usually where the huge growth is. I see MUEI as a strong candidate to move up Monday, mid 14's within 2 or 3 days. The 60-minute chart is the one to use there. For PETM, using the daily charts, it appears it's still in the base-building stage. The 60-minute chart shows it ready to climb, but I don't see anything indicating a breakout yet. It could happen soon, the daily charts are above the middle Bollinger, but it hasn't really started yet. Just MHO. Robert