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Non-Tech : ENR trading on AMEX. ( Envirotest) -- Ignore unavailable to you. Want to Upgrade?

To: Batgirl who wrote (33)	7/22/1998 1:28:00 AM
From: High Grader	Read Replies (2) \| Respond to of 62

Well that was wild day. I have had another look at ENR and the results are in the new chart at elkvalley.net I am not sure if what we just finished was a really a wave III. The EWMACD divergence suggests it was a wave V. I can re-label the chart to show this, but either way it should now have an abc correction. a down, b up and c down to the bottom of the wave. The wild swings in ENR hide a lot of information and I don't have an hourly chart to see what type of action happened intra day. So we will have to wait and see what unfolds, check the indicators etc, before picking any targets for the bottom of this correction. For anyone interested in the Fibonacci date/timing business I suggest you read Robert Miner's Book, " Dynamic Trading." A very good place to start learn about this stuff. Incidentaly if you look at a chart and count the days ENR has a cycle for the last three peaks of exactly 43 market days. If I had noticed that I would have been even more focused on the 21st as being a day to watch out for. Now what date is 43 market days from now?

To: Batgirl who wrote (33)	7/22/1998 9:26:00 AM
From: Ross Orr	Read Replies (1) \| Respond to of 62

I think the action was just a lack of buyers. I don't think there is any institutional coverage at all. Apparantly someone was covering them but he was hired away to be a communications analyst. First Boston, as you know, was hired to enhance s/h value so I don't think they are allowed to comment on the stock. Surely some bright environmental analyst will see this as a good way to make a name for him/herself. With the backlog they have, I can't see why they wouldn't continue to make a minimum of 50cents a quarter as a large part of the revenure is recurring. Company has repaid almost $100 mill in debt in the last year. Not hard to do when your EBITDA is >$20 mill. Ross Orr