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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (21164)	9/9/1998 11:32:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79449

David, Ok, that's a start. Also, back on Carolyn's watch list, TNM has that uptrend that held through the last few months. The last couple years in the chart show a huge inverted head and shoulders formation. Carolyn spotted the ascending triangle component of that. Although it's not a mimbo, the size of the IHS gives it very good potential. A line from the high on 1/9/97 across the high on 4/8/98 shows what's going on with the intermediate term supply/demand dynamic. A line from the all time high across the high on 10/20/95 shows the long term perspective and pinpoints probable resistance if this retest 1/9/97 line is successful. The SMI threshold is on the 0 line and the current value is a shade under 0. The shorter term SMI's are reasonably strong and should get the 13, 25, 2 over the threshold on any decent move in the stock. Across the 6 periods of SMI used, the score on each totals 34 which comes to a 5.6 avg. That score just keeps it in the blender. The MA/MLR is a 7...an optimal configuration with a recent knee. The Bollinger Bands are looking really good. 7 The CCI is just itching to make a move. The 233 is accelerating nicely along a line from 5/27 to 8/13. Another 7. The price/volume stuff is not entirely hopeful looking but that PVI/NVI deserves watching. Unfortunately this part of the blender kicks it out but as soon as price/volume gets up to speed, the stock will probably already be moving well. Current trending of the MACD starting from 11/20/97 is right on...timingwise. The rabbit stuff couldn't get any tighter. That's very good...timingwise. The entire range of MA activity has a great profile...timingwise. MA stuff is a 7. Although the timing in the MA stuff is great and BB timing is great, a clue on direction beyond what the CCI and MA/MLR provides is needed since that price/volume stuff is iffy. Hmmm, time to get into the RSI and stochastics.... next post. I'll also do my usual quick review of the last several months of news on it. If anyone else would like to dig into the fundamentals, I'd greatly appreciate it. While I'm doing that, could you get a magnet read on it? thanks. Doug R