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

To: Hank who wrote (15874)	4/30/1998 3:56:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79384

Hank, I'll have to keep an eye on VII for another buying opportunity. The pattern (what I call the stairstep though it is different than what is usually meant by that term) that led to the initial breakout is caused by steady accumulation by a small group of investors that intend to hold for the long term. The low volume as that pattern developed is how I can tell that it was a small group. The pattern is very uncommon and consistently provides support in any selloff. ACRT broke out of the very same pattern the first time it broke over 10. That price area in ACRT has been support through 2 separate selloffs. The first of which was about 14 mos. ago from the $16 level and of course you've probably seen the recent activity there as well. The breakout on VII was caused by traders/investors with less than a long term horizon. The price at which it broke out would be a good buy area since that is where the long termers were last accumulating. We'll see how it shapes up. Doug R