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

To: kvogel who wrote (852)	9/8/1998 4:55:00 PM
From: Wayners	Read Replies (1) \| Respond to of 927

I came up with $10 two ways. One, in a downtrend $10 looked to be about a 50% retracement of the latest drop. Two, $10 lines up with the low on Aug 27. PAIR had a strong close today. I'd look for a gap up tomorrow to $10 1/2. I don't know if PAIR will be able to stay above $10 or not. All you can do is raise sell stops to just below $10 or outright sell at the gap up tomorrow and put in a buy stop order above the high set in the first 30 minutes of trading--so that it only gets hit on the way to $12 1/2 to $13--there's much stronger resistance there. No sure things in the market, but that's how I'd play it.