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

To: TLindt who wrote (133)	2/11/1998 9:11:00 PM
From: Wayners	Read Replies (1) \| Respond to of 927

Hi Tom. You haven't posted in awhile. I had to go back and see what I said about CKFR. Things have certainly changed since Jan 23 before the bell when I posted. Back then CKFR was at about $25 even and I called it a picture perfect short term short. On Jan 23, CKFR dropped as expected (opened near $25) and went as low as $21.50 over the next few days. Could have made great money on the short side. Anyways since that low, CKFR has bounced back up and has been trending to the upside using a 12 day moving average. It dropped 0.625 today, but the uptrend remains intact. I think you bought at $21. It traded as high as $28.50. Plenty of opportunities to make really great profits. I think all you are seeing here right now is normal profit taking. Look for a bottom around $24 to $25.50. 5 day stochastics at the bottom will form a really sharp point (because of the uptrend) when it reverses. The bottom will also be higher than the last 5 day stochastic low. It will bottom quickly in my opinion. If you are really worried you can sell some out of the money covered calls for next week or next month--your call. Too early to sweat in my opinion Tom. This is the stock market after all.