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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: Al Greenleaf who wrote (979)	5/26/1998 11:28:00 AM
From: HeyRainier	Read Replies (1) \| Respond to of 1720

[ QSNDF ] Hello Al, I was keeping eye on the Bollinger Band myself. Any movement outside of it has very often signaled a truly oversold condition, often a better reading than a stochastics indicator(assuming no gap down occurred). I think the bounce-back was fueled by a combination of Fundamental and Technical players who played on both the significance of the news and the oversold condition being met with a near term upside breakout of a downtrend. The low of Thursday's move coincided with the bottom Channel boundary for the issue's trading range. The near term strength though still does not escape the downtrending nature of the intermediate term price action. While an acquisition at the $2.50 does seem like a fair entry point, I continue to hesitate because of my experience with issues that are experiencing such downtrends. Note that the Speed/Resistance line was broken through to the upside. Regards, Rainier