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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (12364)	2/18/1998 4:17:00 AM
From: Doug R	Read Replies (1) \| Respond to of 79284

David, SRSL is doing some marvelous Gann line stuff. It's a bit esoteric but very cool. On the more down-to-earth side, draw a line from the all time high on 10/31/96 across the high on 11/7/97. You will see that SRSL gapped over that line. Coupled with the volume, this is very bullish. Now let's proceed to the next step and draw a line from the same all time high across the high on 1/9/98. The close on Tue. so far amounts to a retest of the breakout above that line. This is very bullish. There is no breakout of what you interpret as a current ascending triangle yet. Myself, I would rather interpret the activity over the last 2 1/2 mos. as a double top. Either way, continuation above the line of resistance defined therein, will also be very bullish. In a TA of SRSL I did about a month or so ago, I targeted 10 1/2 for the short term (3 mos. or less). I may have to consider an upward revision. Doug R