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

To: Magnatizer who wrote (18305)	6/9/1998 9:35:00 PM
From: Magnatizer	Read Replies (1) \| Respond to of 79260

thread A stock came up on one of my scans and it looks pretty safe and strong. Have not done the FA but it was on IBDs weekend review so I assume the FA is pretty good. VRLN is the ticker. broke out of a triangle formation today. Looks like 39-40 is the next stop. ht david

To: Magnatizer who wrote (18305)	6/10/1998 3:25:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79260

Geez, Here's the deal with TFCE. If it doesn't hold a low of 2 15/16 on WED. the next opportunity for it to break out will occur in early July. The fundamentals support the technicals and vice versa. If it doesn't hold on to the uptrend line from the low on 5/30 to the low on 6/4, I will sell my trading shares but hold my long term shares. I will use the line from the low on 5/4 to the low on 5/27 as a mental stop for my long term shares. That is the line that projects a possible breakout in early July. Considering that early July is not too distant, I have no problem with the patience dictated by the chart. The greatest caveat at this stage of the chart's progress is that there is now a higher probability for a shake out to occur. A seemingly extreme dip on anemic volume should be viewed with a healthy amount of skepticism. I do not, personally favor physical stops but that's my own opinion. Doug R