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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Barry Hightower who wrote (586)	5/25/1998 10:17:00 PM
From: TATRADER	Respond to of 59879

DSSI is preparing for its reversal...Stochastic moved up to 12 on Friday from below 10...Confirmation of course is just above 20...With a weak ADX at 17, I usually focus in on the envelope channel and Bollinger Bands to help me with reversal areas...The envelope channel sits at 5.50-6.08....Since we have not taken out the low for two days now, and we are at the bottom of the channel, it tells me the shorts are starting to get nervous and should cover...Furthermore, the upward trendline sits at 5.50...The stock has moved into it on low volume, which is a good sign...If the stock has strength, it should test the trendline on Tuesday, and be repelled strongly above it by the close...It is possible as we look at the Bollinger band that that stock could take an intraday move down to 5.00 before reversing itself above the trendline...In my opinion this is a reversal play and that is it....In other words, enter while all is quiet, and exit on the spike... Overhead is where the stock has high volume areas from the past above its present price....We are not talking about virgin territory where the stock is heading back to its all-time high....I keep my overhead info to myself, since I need to have an edge to win... Regards, Mark