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

To: freelyhovering who wrote (12445)	2/18/1998 9:01:00 PM
From: Dave H	Read Replies (1) \| Respond to of 79308

Hi Myron, Long time no talk, eh? I miss being on here more, but alas, right now in my life I just don't have the time. I know I'll be back here again though, with a vengeance, just like the old days! ;) ok, now onto AMVC. AMVC has actually been performing excellently as a sequential. After the sequential completes, you can generally expect to hold onto it until a setup occurs in the opposite direction (ie a sell setup) and take profits then. However, there is an important price to look for as resistance -- called the "TDST" (TD Sequential trend). This is the high recorded during the buy setup that created the buy sequential. For AMVC it is 2 9/32. If during the sell setup, price can break through the TDST on a closing basis, you can expect the sell setup to lead to a sell sequential and also complete, and you can hold until the sell setup completion, and even maybe reverse your position! Ok, so where is AMVC at this point? AMVC is currently at day #6 of a SELL setup (today was day 6). if it can break through 2 9/32 before completing the sell setup, that would be a great sign and I'd look for 2 1/2 as a final goal on this run, just looking at the chart. However, don't underestimate the strength of 2 9/32 as resistance on a closing basis. I'm actually torn right now whether to take profits at this point. 3 more days left on the sell sequential -- can it do it? the 13,8,8 stochastics have moved into very high territory. I'm really looking for a breakout volume day. the other possibility is to see 2 9/32 act as resistance, even a possible retest of 2, see a cup w/handle form, and then propel the stock up again. Needless to say, the next few days for AMVC will be very interesting! Hey, while I have your attention, what is your take on ENPT? Hasn't broken out yet, and I've been liking it more and more the more I look at it. -dave