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

To: majormember who wrote (1238)	6/26/1998 9:52:00 AM
From: HeyRainier	Read Replies (1) \| Respond to of 1720

[ IFCI ] Skane, IFCI too has Shooting Star-like qualities, which is a bearish reading since it gave back so much of its gains yesterday. Rally failures are usually a concern near term, but on an intermediate term basis, you are going to want to be holding stocks with the bullish characteristics that IFCI currently has. Breakouts to new highs are one of O'Neil's criteria in his CANSLIM method; for some reason stocks that hit new highs just keep doing it over and over again. Most likely because there is no overhead resistance, everyone is a winner. Slightly overextended in the near term, this could try to consolidate at this point (perhaps via a flag formation), or just plain continue its bull run. The chart will tell us. Watch out for the possibility of a Bull Trap/Failed Signal. If that happens, then I'd look to go short upon failure. Regards, Rainier