To: Feraldo who wrote (1121 ) 11/6/1998 12:06:00 AM From: JRobinson Read Replies (3) | Respond to of 3541
>>The largest volume day was on June 17th. 2,187,000. Closed at 8.25 about, up about 11/16. There should be a back off, IMO, since the RS lenght as measured by IBD did not hit a new high. We'll see. I could only hope we don't get a back off. << I think RS line only needs to be making a new high when the stock is making a new high. Right now it is in the same territory as it was a few months ago in the 9's. In English: we're OK as far as the RS line is concerned. For now anyway. TWIMC,A couple days ago someone was getting a little bearish as he saw a double top. Well, I'm not going to come out two days later and second guess him after we've moved up:). But I do want to point out that we did test the 200 day moving average and bounced strongly off it to our current price. The 20, 50 and 200 day moving averages are significant support and resistance lines and special attention should be placed on equities in these key areas.Why? Because others pay attention to them and they will make their buy and sell decisions based on that information. That will directly affect the performance of your returns. Charly mention that we crossed over on some moving averages. That is significant and wasn't lost on technicians. Be aware we may also be running up solely because earnings are to be released next week and we may sell off on the news. The volume will tell the story. If it's light, that's OK. Heavy ...somebody may know something we won't find out til later. Feraldo, where did you see the RS line? Do you get Daily Graphs or was it in IBD charts. Just curious. I'm taking my info from Daily Graphs online.