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

To: James Strauss who wrote (6783)	7/12/1998 10:09:00 PM
From: James Wright	Respond to of 29382

Jim -- I agree with you on WAVO's resistance level. The question is whether the volume will be high enough to quickly break through 16. Fast rising stocks often experience a short term spike during the first 15 minutes after the opening bell on the second day of the run up. They then usually have a short term pull back on profit taking, and then see a mini-rally before noon. They then have a dip in the afternoon, with the last hour experiencing either a rise to new highs on continued strength or the start of a pull back that will result in free fall through the next couple of days. I will decide whether to buy on the expected pull back about 20 to 30 minutes after the opening bell based on the volume. WAVO is a story stock -- it doesn't have the fundamentals yet. It will move up (if at all) on momentum, driven by volume. Tomorrow should be interesting! -- Jim