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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: Christopher who wrote (4616)	2/22/1998 9:15:00 PM
From: TATRADER	Read Replies (2) \| Respond to of 7396

Christopher, thank you for your input..I question whether this is technically a Head and Shoulder bottom on SRSL...Usually the Head is at the center of the pattern, with single or double shoulders on both sides of the head...On SRSL you have the deeper bottom in the first position, followed by two shallower bottoms...My technical take is that we have a double bottom pattern, measuring 6 by 8.00, with neckline in the 8.00 area...Target is 10.00 a share....The one thing that has kept me from being overly excited about this stock is overhead...I looked back into history and calculatred about 1.5 million shares of overhead in the 9.00 to 9.25 area...As I figure, we have taken out 750,000....Of course a few more days of good volume would easily take out the remaining overhead for a run at 10.00...ADX power lends support to this premise....By the way, I quote from one of the top day traders in the country, Jeff Cooper about ADX.... "This is the single best indicator available to traders, yet it is the least used indicator. I highly recommend that you either buy a software package that has ADX, or program it yourself from the formula in the appendix of my book. It will be worth your effort many times over." (From Number 1 selling book,"Hit and Run Trading" page 14) Mark P.S. I will keep using this indicator, and fine tune it...Thanks Jeff