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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (8308)	4/20/1998 11:42:00 PM
From: TechTrader42	Read Replies (1) \| Respond to of 12039

Hi L3 aka L3 (which are you usually known as, L3 or L3?): I'm no expert, but in my opinion, the beginning of the end for this stock was Thursday or Friday, when it broke through short-term support at around 38 7/8. The low fell through that level Thursday, and it closed below it Friday. That was a clue that it might go down Monday. The next lower support level could be under 34. On the optimistic side, it could correct to back over 40, but it doesn't look good. I'd say the stock is moving down. Set a limit to how much you're prepared to lose. If it does continue to fall, don't be tempted to ride it down. Brooke

To: Lee Lichterman III who wrote (8308)	4/21/1998 12:18:00 AM
From: big run	Read Replies (1) \| Respond to of 12039

L3....one thing that is key for me is volume. what helps me decipher all those little ticks at the bottom of the screen is to color code them. simply, when volume is greater than the 21ma and the close($) is greater than the previous day i paint the bar green. when volume is greater than the 21ma and the close($) is less than the previous day i paint the bar red. if either of these don't occur then the bar is left black. this helps me to visually see the selling and buying pressure more easily. if you set this up and look at COO you'll see alot of red beginning with feb. on pullbacks i personally don't like to see this much red. more of a selloff. i don't use many indicators so i've learned to rely on volume as the second most important guage of direction. not always right, but enough to keep me going. hope it helps. mike