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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (822)	8/13/1998 8:42:00 AM
From: Wayners	Respond to of 927

PFE Still caught in a downtrend. Has to break downtrendline first before going long or buying calls. The downtrend line would be broken above about $106. Watch the stock closely for volume above $106 and then buy the calls. Be quick to take profits. Picking bottoms on downtrends is a losers game. MSFT A break above $105 goes to $110, the next resistance level. Still on a downtrend. A break above $110 would be a reversal. You can play a quick break above $105. Watch for high volume break of $105, buy the calls and be quick to take profits near $110. Just buying calls now is pure gambling. Buying into downtrends is risky.