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

To: Donald Posey who wrote (13564)	3/20/1998 12:25:00 AM
From: milesofstyles	Respond to of 79450

this is not based on the ta but the fact that it closed above it's open and near it's high may indicate that everyone that wanted out is out. how bad was the news?

To: Donald Posey who wrote (13564)	3/20/1998 3:21:00 AM
From: Doug R	Respond to of 79450

Donald, The technical circumstances surrounding ABIIB that the thread was focused on were of the nature of a possible buy signal. That signal is still completing its construction so the strategy that tracks this particular signal should still be in "stalk mode" on ABIIB. Now, if one were already in the stock, there really is no sell signal apparent in the technicals although the chart looks rather nasty. A line drawn from the low on 12/30/97 along and beyond the low on 3/4/98 will be the significant supply/demand indicator for the next month or so. If it can climb back above that line, it's a buy again. If you continue in your line drawing you'll find 2 other most likely significant lines. One of which you might wish to choose as a mental stop price. The first line is across the highs on 11/18/97 and 1/21/98. The other is across the highs on 12/17/97 and 1/8/98. The low today seemed to use the general proximity of those lines as support. It's not yet apparent which one is predominant. Otherwise it's a sell on the first failure to break the 12/30---3/4 line or...it's a hold. Doug R

To: Donald Posey who wrote (13564)	3/20/1998 9:05:00 AM
From: Magnatizer	Respond to of 79450

Donald Actually the TA on ABIIB was suspect and that was why I posted to wait until the gap was filled. During the filing of the gap the news came out which sent the stock tumbling. ABIIB may be a good play in a couple of weeks or more but obviously is not right now. TA is not an end all and suprise news can jump up but many times the TA shows that good/bad news is about to come out. If you have watched the MIMBOs they are generally signs that good news is coming and the charts forcast it ahead of time as there are insiders/institutions which accumulate before the news hits the street. happy trades david