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

To: Logistics who wrote (23011)	11/14/1998 3:38:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79269

Logistics, Considering that IOM tripled in 3 weeks as all that news was being built into the chart, I have to first state that I would be very cautious with it. At that recent high of 9 7/8 it was stopped in its tracks by the down trend line from the highs on 5/23/96 and 12/1/97. I wouldn't get too excited until it broke over that line and began a strong volume move off the retest. I have an interesting pair of target lines at 9 5/8 for Mon. but the way the 3 dRSI is acting, it may not go after that. It appears that the 3 day RSI will be putting in a hitch to set up a move later in the week to correspond with a possible x-over being set up in the 13, 8, 8 stochs. There's a possibility that it will see just below 6 intraday at some point during the week so you might want to save some powder for that. Doug R