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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Seacat III who wrote (12200)	7/31/1998 9:21:00 AM
From: virgil vancleave	Respond to of 18691

just my 2 cents worth of opinion and analysis for the record here. we are just entering a timeperiod where picking stocks to the downside will be much like it was in the dart throwing side to the upside at the start of this bullish phase of the market. we are on the last leg up, or at least it looks like it. many charts looking toppy and even bearish. i am seeing lots of head and shoulders tops just forming the slope on the right shoulder. my favorite which i now have a small position is sctr. unfortunately, it does not trade options. right shoulder has just completed forming and it is sitting right at the neckline adn below the now downtrending 50 day moving average. there is some support at 35-36 area, but if it breaks that then its all the way down to the low 20's or upper teens. my target price is in low 20's. good luck