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Strategies & Market Trends : today's chart -- Ignore unavailable to you. Want to Upgrade?

To: browser who wrote (1000)	8/27/1998 12:39:00 AM
From: Nazbuster	Read Replies (1) \| Respond to of 1267

Robert, I'll give it a try... Strong downtrend. Likely to continue. Came off of three days of lower lows to dip and close at near the high. (Taking a breather from the drops.) One day of buyers sniffing around followed by another pounding, closing in the bottom 1/3. GAPPED down on increased volume. Trading range not huge, though. This looks like what Elder calls a "continuation gap" (more downs to come). Elder says volume confirms continuation gaps when the volume jumps 50% from the prior few days. (This is about what happened.) Also, gap not filled in next couple of days. Expect the trend to continue equal in distance from start of trend to the gap if it trades lower the next couple of days. For "G", that started at 62.5 on 7/10/98 and gapped to close at 45 and change today: 17+ points. According to Elder if the next 2-3 days are down, expect 28.