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Microcap & Penny Stocks : lcav -- Ignore unavailable to you. Want to Upgrade?

To: Manny Gugliuzza who wrote (382)	5/12/1998 2:17:00 PM
From: Manny Gugliuzza	Respond to of 942

and what is really out of my minds grasp is the ability of summit to stoop to the near high of LCAV just six weeks ago. this is enough to piss off the pope no? ar.

To: Manny Gugliuzza who wrote (382)	5/12/1998 5:23:00 PM
From: Harry W. Lowe	Read Replies (1) \| Respond to of 942

AR, Today's action in LCAV was impressive, but lacked more than short term momentum. Intermediate and long term momentum is still in a negative posture and not conducive to a continuation of the upside rally. OBV is forming a double top, which causes a little concern, and RSI is in a negative trend; both of which indicate an out flow of funds from the issue at this time. If you can look at the rally failure of 5/7/98, you will see a "snap back" to the downside breakout price; this is a characteristic of this type of failure. In my opinion, the price action must go above $3 21/32 for a resumption and confirmation of the rally; otherwise look for a retest of $3.00 and lower. Harry