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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (4153)	4/30/1998 11:41:00 PM
From: Raymond James Norris	Read Replies (1) \| Respond to of 29382

I concur. I was speaking with some buddies on AOL about this one. I have many factors that lead me to believe it. Among them are a recently broken Downtrend Line set at its IPO. That DTL has been resistance on 4 occasions. It was just recently broken. The volume correspondence to that break makes me more bullish. Slow and Fast Stochastics are bullish with Fast Stochastics almost to overbought territory. MACD has crossed over and ADX is rising with +DMI on top. One of the most reliable indicators I have in trending stocks like FAXX is at this time is the multiple Moving Averages. You may have seen the article in TASC. It graphs 2 sets of EMAs, one short term and one intermediate term. There are about 10 - 12 EMAs all together. The Buy signal is given when the short and intermediate term EMAs tighten and constrict and then crossover. The Sell is given when the same happens but the short crosses below the intermediate term instead of above it. That has happened 3 times for FAXX since its IPO. All signals were correct. The most recent one happened when FAXX broke out of its trading range. With OBV pointing higher and a the convergence of all my technical indicators, once 5 is taken out, the sky is the limit. Conservatively Yours, Raymond J. Norris