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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Hank who wrote (628)	4/8/1998 10:52:00 AM
From: Jim Roof	Read Replies (1) \| Respond to of 4634

I never took a position because the chart is contrary to the fundamentals that are espoused here. Ie., ZONA has moved down no more than 10% from Bill's posted sell price when he started this thread. If ZONA closes below 19 then it is weaker than I anticipated. Chart analysis is not a science, it is an interpretive endeavor that for obvious reasons needs to be re-evaluated on an ongoing basis. Case in point, many things that look like a consolidation for a continued move can turn into reversals. A good chart reader can see hints of this coming but it is never confirmed until the breakdown of the price range is well established. What ought to be of some concern to you with ZONA is the very weak volume on this last slide. It does not appear that there is much interest in selling despite the lawsuits and negativity. I would be wary at this point. BTW, HEPH continues to rally. I have no position here either. If you are interested in a potential long play check out WGNR. Digital Broadcasting equipment company that just surprised with good earnings for last Q and projections of an outstanding year. It has also just broken out of it's bottom last week. When all goes digital they will be a player but they are still a small firm with plenty of room to grow. Jim