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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: ENOTS who wrote (6120)	11/23/1998 8:09:00 PM
From: James Strauss	Respond to of 7006

ENOTS: Classic chart patterns generally reflect the various psychological scenarios of buying and selling... The double bottom is usually reflective of a stock price turnaround... This is where some people get off the rollercoaster and others get on for the second time... This is the give up, throwing in the towel time that usually marks the test of the bottom... At 1.00 or below, RECY will be in double bottom territory... We'll have a bunch of new investors and those that have averaged down... This group feels there is little downside risk, and will offer solid support for the price upswing... Surprisingly, when this type of chart configuration occurs, it marks an end to the fundamental reason for the original price fall... In other words, we could see the scrap prices stop falling... At 1.00 or less I'll be averaging in... Jim