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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (9986)	2/9/1998 8:56:00 AM
From: Wayners	Respond to of 13456

My decision to short IOM is based solely on short term momentum. Price is at the upper bollinger band (12 day, 2 std dev) and IOM is on moderate to severe downtrend as shown by a 12 day moving average. In addition the 5 day stochastics have peaked over 80 and have broken down to crossing the 80 line to the downside (i.e. overbought). Longer term, IOM will be fine. Remember this is a 5 day short for the game only and you don't have time to wait for a stock to break up or down--it has to have already started. Actually I'd say the preference would be to jump on something that has already completed half of its move or more and ride the rest of the momentum. IOM probably isn't a great pick for the game this week because it hasn't broken downward by that much yet.