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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Caroline who wrote (2134)	10/25/1998 2:37:00 PM
From: Charles Kalb	Read Replies (3) \| Respond to of 39683

Caroline, thanks for comments on BDK short. I hadn't picked up on couple points you mentioned. Chart repeated here for those interested. timely.com I had one further thought. The breakdown in BDK's recent rally just above 200 MA did indeed look IMO like an excellent short entry point, but only if the downtrend from mid-July was still in place. If the exceptionally strong rally that started the 1st week of October is the start of an uptrending channel, then a short entered here should be watched very closely as it might turn around and head back up on "short notice", so to speak. In my scans for potential shorts the past couple of trading days I noticed the same recurring price pattern in many stocks, a recently stalled rally from early October and turning down now. My concern is that this pattern might be a normal short-term downward fluctuation in a new and not yet visible uptrend channel. BTW, the BDK earnings you mentioned of $8.06/share seems a bit high. Oct. 14 NR reported 3Q 72 cents vs. 60 cents last year. Charles