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

To: CJ Owen Critchley who wrote (67)	2/8/1998 11:08:00 AM
From: Wayners	Read Replies (1) \| Respond to of 927

Its got to be a market top when rock bands are flipping stocks :)! IOM is looking to be an absolutely outstanding short play here. The downtrend is moderate to severe, the 5 day stochastics are breaking down as Owen pointed out AND price is at the upper bollinger band all at the same time. Looks like FREE MONEY to these eyeballs. Seeya at $8. I'd put CIEN on short watch as its on a moderate to severe downtrend as well. Only needs a peak to short on. I think a quick short would be in order though right now with the usual stop loss order. AMZN looks like a quick short as well, however the trend is currently neutral but looks like its about to change to the downside. The risk is a little higher in my opinion. IIT is on a slight to moderate uptrend. I'd want to buy it cheaper however, if you use a buy stop at $18, that would probably get you into a quick rally to the upside if it breaks in that direction and keep you out of any breaks to the downside. Normally I'd expect it to drift a bit lower.