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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel -- Ignore unavailable to you. Want to Upgrade?

To: Charles A. King who wrote (4411)	4/24/1998 11:36:00 PM
From: Lawrence Burg	Respond to of 14347

Not a complete surprise. A gift to me recently was a combined stoch which had a partial bottom convergence after Wednesday. Figured there might be a little pop up, but not like this. Read the bland PR @ 11:30 and figured the move won't be sustained. So sold a bunch @ 2 3/8. Quick look @ charts... OBV still southbound & high, >20,000. I playing w/ADX, so I combined ADX(14) & ADXR(14) which shows a gap forming, but signal still a week off. MACD <0 right now, but could cross trigger and move into positive territory if price continues to rise. 14,3,3 exp Stoch also looking strong with a cross up from <0. Price is also sitting in the middle of the 20exp BBands; up to today, charts said it would follow the bottom for a while. So trend indicators are mixed. RSI(8) showed a buy after Tuesday w/a cross up from below 30; this countered a serious slide mirroring the price the past few weeks. CCI(8) actually tripped a buy on the slide down, around 2 1/8. It's been rising since, but is fast approaching OS territory; now ~ 75. Chaikin O also gave similar signal a few days ago. I have little feel for pattern analysis; head & shoulders, etc. Also, I'm lite on FA. And, I'm new to TA, so I'm not prone to sticking my neck out just yet. However, in the absence of good news (TX or Conoco, et. al.) I'm betting that the price will recede to <$2. Might see some additional appreciation for a day or two, but the OB/OS indicators have been spent, and the mixed trend indicators don't support a sustained move. I d----d around w/RNTK TA when it was $1.21 and paid the price for trying to fine tune an entry. We'll see if I've learned. At least I'm still packing some more shares this time as a hedge against my inexperience...:-) lb