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

To: ViperChick Secret Agent 006.9 who wrote (16753)	5/11/1998 10:43:00 PM
From: Ocote	Read Replies (2) \| Respond to of 79378

Market watch--13RSI model & IL violator report Today the markets continued to look directionless and the 13RSI notched downward, possibly indicating that it will head downward before telling us whether the new baby uptrend will be the beginning of a breakout of the longer downtrend, or will collapse as it hits the downtrend. There is not much room to play with on either side, so we should be able to say "breakout" or "continuation" within 2 days. The Dow looks similar, but the uptrend forms three lows going back to 10/29, suggesting more power. On the negative side, this may be the first peak under 0 for the 13 ROC, which has almost always been followed by a big down days. I have to remind myself that this is just a model, and right now I think I'm more a fanatic of it than Doug. So I remain faithfully in cash, Ocote PS.. Short report Short report BVSN--broke firmly below the 13day MA today on upvolume. 13day RSI's firmly in downtrend. Money flow negative; Stoch21,13,13 falling breaking below 50, The 2,1,2 telegraphing the basementinstead of the ceiling. Broke through active surviving trend line. MACD broke below 0. PRGN--broke down through important support at 22 today. Stoch 2,1,2 ratcheting ever-downward. RSI 13 broke below 50 which had provided support last three times CLYS--still stuck firmly above 13d MA, but fairly-short shochs turned downward. Very short Stochs crossing upward which should give us some idea where it's going tomorrow. Looks like it will try to break resistance at 13 3/4 and fail on low volume. It has already broken the sharp uptrend.

To: ViperChick Secret Agent 006.9 who wrote (16753)	5/12/1998 2:27:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79378

Lisa, If you were a huge participant in the market and you were given the 100 point plus "gift" that was handed out in the early going today, would you accumulate...or distribute??? It is painfully obvious to all but DD holders that today was an opportunity to sell into strength. It happens every time. The sell signal is still very much intact. In order to keep things in perspective, when the Dow dipped below 7,000 for several minutes on 10/27, that was a HUGE buying opportunity. From the Dow's most recent intraday high, 8300 would be very low. Now, compare 7,000 in Oct to 8300 in June............SO WHAT???? Just be careful with your short term positions. That's what I said 3 weeks ago. Doug R