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

To: Bald Eagle who wrote (6460)	6/26/1998 12:55:00 PM
From: Magnatizer	Respond to of 29382

Wiseowl Magnets are something that I discovered. It is a combination of signals which gives the magnet areas. A bit complicated to discuss on a simple post. I can tell you how they work. They provide areas of attraction which pull stocks up or down depending on the trend of the stock. They give support when below and resistance when above. A stock like ELGT which is in the building for a run stage will likely gravitate to an area I call the neutral zone. This is the area directly between two magnets. It has equal pull from both directions. If a area between magnets is quite large (20% or more) I like to break the area into 1/4s. If there are no magnets over the top of a stock then it has no pull upward and will likely fall in its run. As ELGT did when it first crossed 3.50. Also magnets need to be tested. If they are not tested and the stock continues up it will likely come back in the near future. One to watch for this action is URGI. I have a magnet at 8.75 that needs testing. Another stock which fell to the magnets power recently was APCO. It has two magnets in the middle 9s which were blown through on the way up. And lately it has come back to test them. ht david