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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (5762)	6/8/1998 11:38:00 PM
From: Magnatizer	Read Replies (1) \| Respond to of 29382

max you should really bookmark the 13 thread. we have been covering BUS for a few weeks now. Many excellent picks generated over there. Anyway, I will look into it tonight after I do a few other things and see whats shakin' ht david

To: LTK007 who wrote (5762)	6/9/1998 12:10:00 AM
From: Magnatizer	Read Replies (1) \| Respond to of 29382

max I can only work with distractions like TV or loud music in the background. An Xer if there ever was one. LOL BUS: Technicals look very good. Not overly strong in any area but a nice balance strength being shown throughout. I have many magnets overhead: 6.375, 6.75, 7.00, 7.75, 7.875, 8.00. All will, more than likely, provide some sort of resistance along the way. Right now BUS is in a symetrical triangle formation. And text book at that. On a weekly chart it is fairly obvious what the formation looks like. Just connect the recent highs in a downward sloping line and the recent lows on a upward sloping line and you have your triangle. Now, in a text book triangle formation the volume will decrease as the stock nears the apex. The closer to the apex the lower the volume. A break out of the triangle should be accompanied by a surge in the volume to be considered valid. So what to do with this information... If I were to invest in BUS I would wait til it broke out of the triangle. Right now indicators are pointing to it going up, but, if it does not then the downside could be substantial. It is of good long term strength which makes it a good long candidate, IMO of course. ht david iqc.com chart of BUS