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To: Galirayo who wrote (7587)5/2/1998 7:32:00 AM
From: Dave Shares  Respond to of 9262
 
(SLCM)

Ray, this one could have been bought at 2 5/8 on Friday at the 50 dma, I think I will watch for it to return to this level and then buy it. Hopefully I will get the dip.

WAST has fundamentals that would give one pause, but I did like the chart. Tell me, on an issue like this, would you look to buy it on a retreat and bounce off of the 50dma (looks like it is around 2 3/16), or do you set a buy stop at around 2 17/32 when it would be looking to break out of the triangle?

Have a great weekend, it is looking like a washout here.

David



To: Galirayo who wrote (7587)5/2/1998 8:19:00 AM
From: Susan Saline  Read Replies (1) | Respond to of 9262
 
>>>WAST ] R.Dave.

>>>A Beeeutiful Chart.

hi ya'll, here's my 2 cents

Strategy
....no volume increase, means some resistance here

appears to be a "better" stock for monthly "trading"

for a longer hold (6 months to a yr), buy stop 2 9/16, buy only at the ask on ut's.
sell on ANY sign of Large sells, cause that will mean it's hitting resistance and will fall back to support at 2 to 2 1/8.

If weak the next few trading days, probably will not breakout, but fall back to it's support.

The reason I say it may not break through is the triple top giving much resistance...therefore buy stop 9/16 ... stop loss at 3/8, in case the breakout is a fakeout.

Are the fundamentals good or poor....that makes a difference also.

sue