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To: Wayners who wrote (22695)10/12/1998 2:10:00 PM
From: joe  Read Replies (1) | Respond to of 45548
 


>>Value buyers will step back up
to the plate at the next support level--where the gap is closed.<<

And then, when value buyers are exhausted, there will be no
more buyers above that point? So we continually drop lower...
until there's a reason that everybody feels they should
be buyers again? Confusing...maybe when we get to 28, which
I guess is old resistance/new support, value buyers will
be buying since the trend is up to 32-33? Is this reasoning
right Wayne?


Maybe the reason buying will start again is if buying is seen
to hold at 28 (by value buyers), then more buyers will be
convinced that the break through 28 was for real?



To: Wayners who wrote (22695)10/12/1998 2:21:00 PM
From: joe  Read Replies (1) | Respond to of 45548
 


>>Value buyers will step back up
to the plate at the next support level--where the gap is closed.<<

Wayne, is the gap defined from 27 1/4 to 28? Is closing the
gap defined as going back and touching 27 1/4 and then
bouncing off of that? - or is bouncing off 28 considered
closing the gap also?

-thanks


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