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Technology Stocks : YURI ( YURI SYSTEM ) -- Ignore unavailable to you. Want to Upgrade?

To: Yuppy who wrote (540)	2/12/1998 11:08:00 PM
From: Don	Read Replies (1) \| Respond to of 1181

We've heard from the longs and shorts about the fundamentals of this stock, which are very positive for the longs. Shorts typically generate fear based on some "hidden information" they say they've uncovered. An area that hasn't been discussed yet is chart analysis. Let's take a look at that now. The weekly chart shows an upward trend since Dec 12th which follows a drop from $39 a share starting on Oct 7th (due to Asian fears) to $17.50 a share on Dec 11th where stochastics revealed a very oversold market. The next day began the uptrend. Take a look at any chart and draw a line from the low of Dec 11th through all the lows up till now and you will see the trend. Ever hear the phrase "The trend is your friend". Now lets discuss the 200 day moving average. On Dec 3 stock fell through 200 day MA and traded just under it until Jan 16th when it closed above the 200 MA on low volume. On Jan 23d stock fell again through 200 day MA also on low volume (a good sign) mostly due to short term traders taking profits. On Feb 2, stock began its surge on high volume (over twice the daily average, and is considered very bullish) and closed above its 200 day MA where it has stayed (also bullish). Since Feb 3 stock has not closed below 200 day MA, and the last two days were traded on very thin volume (less than half the daily volume), which means most longs are holding onto this issue. New support may now be the 200 day moving average and may soon be replaced by the 21 day MA (which short term traders use) which is trending up and will soon cross over the 200 day MA (considered bullish). This is a juncture where we may see some more price surges (in favor of longs) which can be expected to be pretty healthy. Now lets talk stochastics. On Jan 30th stock finished its fall, through the 200 day MA, at $21 with a very oversold stochastics indication. This started the Feb 2nd surge on high volume. Yuri has been consolidating nicely over the past week with stochastics moving back into the oversold territory adding more bullishness to this issue. This stock is poised for another upward surge. I bought this stock at $20 based on technical analysis and fundamentals and I don't believe it will see $20 again for a long time, if ever. Never underestimate the power of the bulls. This is the mistake that shorts make time and again.