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Technology Stocks : FORE Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Honor First who wrote (9849)	12/3/1998 12:34:00 PM
From: Ed Frye	Respond to of 12559

>>Ed - What are the possibilities for Fore? I did sell most at 17 1/8. Do you think that according to your Japanese candlestick method that there will be another chance in the low 16's or high 15's? GOLDEN RULE: Old Resistance = New Support (assuming we close up). Therefore, assuming we close above 17 1/2 today, which is required to confirm the resistance breakout, I would not expect a retracement to 15/16 in the near-term and 17 1/2 would become your best possible near term buy price, IMHO. Today's tall white candle, combined with the initial tall white "buyout" candle from a couple of weeks ago, yields the VERY bullish "3 Methods Rising" candle pattern. Everything in between has been within the range of the top half of the first tall white candle (the one that took us from 13 to 17 in one day), thus representing consolidation. The fact that we are breaking out of a major resistance level on heavy volume only underscores the bullish of today's move. MM picked up cheap stock yesterday by blowing out stops down to 15 3/8. Typical MM behaviour before a major rally, known as a shakeout. Next resistance is 20-21. If we break that I'll go out on a limb and predict a buyout is a done deal @~25. ed

To: Honor First who wrote (9849)	12/3/1998 5:11:00 PM
From: Ed Frye	Read Replies (1) \| Respond to of 12559

Hi HF, The candles place great emphasis on closing prices. Recall my words :) ".....Therefore, assuming we close above 17 1/2 today, which is required to confirm the resistance breakout, I would not expect a retracement to 15/16 in the near-term..." Since we did not get that close above resistance, you may get the 15/16 you are looking for. Profit-taking following the sharp rally of the last 6-7 weeks, the expected devaluation of the Brazilian currency, and the European rate cut (which reduces the liklihood the US will cut again) may have overcome the market's most recent bout of "irrational exhuberance." Market leadership recently changed from internet to chip stocks. Both were getting slammed at the end of the day. All in all, I'll be surprised if the broad indices can rally tomorrow. ed

To: Honor First who wrote (9849)	12/4/1998 1:17:00 PM
From: Ed Frye	Read Replies (1) \| Respond to of 12559

Hi HF, >>All in all, I'll be surprised if the broad indices can rally tomorrow. The employment report could not have come at a better time for this market. It seemed to soothe the jitters for now. Then again, maybe yesterday's late selloff was simply a hedge against a bad employment report. In any event, it's almost like the last 24 hours didn't happen. With the reversal of general market sentiment, FORE is now free to continue what it started yesterday. The gap up open, although usually quite bullish, was less so today because of yesterday's anomaly. What is bullish, however, is that FORE has since "closed the window" caused by the gap up open (i.e., filled the gap) AND rallied all the way back. Volume is a lighter than I'd like to see. So, maybe today will give us what we were looking for yesterday, a close >or= ~17.5, to confirm yesterday's breakout. Before this week began I thought we would break out this week and close ~20. We didn't get 20, not yet anyway, but we may get the close above resistance. The latter would set the stage for a positive week next week, assuming the general market cooperates. ed