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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 (14608)	4/14/1998 3:13:00 PM
From: ivan solotaroff	Respond to of 79273

VVUS David: This is a bona fide signal day. NO WAY out of it this time. (As long as it closes up -- I'd want at least two ticks with this one.) Am I going to play it? NO WAY. And I've been waiting tooth and catnail on this one literally for months. The two philosophies of playing cats (basically Doug's and mine) are: Play it on the signal day (preferably in the last 15 minutes) -- Doug's. Wait till 9:31 the next morning -- mine (lest you get gapped down on the next morning's open). I've basically given in to Doug on this one (we've only found one cat, SHVA, that gapped after the signal), but if I were to play this one, it would only be the day after. There's a double-whammy here: bad earnings, plus the worst competition imagineable, in Viagra from Pfizer. I'd be the last to let some silly funnymentals get in the way of a good cat-play, but add to these the facts that a) it gapped within the last week (and took a good bounce), and b) it's bounced 2x from the gap already, and ... What I'm hoping for is an AMLN settling to the bottom. That gives you a chart pattern that looks like this: .....\.........../ ......\......../ .......\..../ ........\../ It would take today, plus one more day to form that shape, which I'll never forget having been in a position to make a two 25%er on. VVUS can easily go into the high 1+ millions for the day, which means it could give a mother of all signals tomorrow on 2 or 3 million volume. That I'd play in a heartbeat. In typical fashion, I'll close by saying: "Or I might just play the sumbitch at 3:50 today." So much for cat-science. Ivan