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

To: ivan solotaroff who wrote (17440)5/22/1998 9:35:00 AM
From: Terry Backlund  Read Replies (2) | Respond to of 79468
 
I have a short memory, what are targets for ONTC ?

Respectfully yours,

Terry



To: ivan solotaroff who wrote (17440)5/22/1998 11:46:00 AM
From: Doug R  Read Replies (2) | Respond to of 79468
 
Ivan,

9/16?????? Cut that out!!!! I posted it at 3/16. Anything over 7/16 would be chasing it. The technical target on it is 7 to 8 but when the overall market isn't cooperating, technical targets are tenuous. HTF's are most often news driven formations so the best way to go after one (other than buying at a LOW point in the flag) is to wait for the news. Jumps on no news should be treated with caution. ONTC is back to the low area of the flag again now. This is a reasonable place to consider.

Doug R



To: ivan solotaroff who wrote (17440)5/22/1998 2:03:00 PM
From: Doug R  Read Replies (1) | Respond to of 79468
 
Ivan,

A "typo" in my post 17454. Where I said low area of the flag should read low area of the breakout. The breakout is still holding up so you're still in decent shape.

I'd use one of two lines as a stop. The more aggressive line is along the lows on 3/27 and 4/28. A more protective line is along the lows on 4/30 and 5/15. I'll probably go with the more protective line for now.

Doug R


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