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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (1194)	12/8/1998 12:30:00 AM
From: Mike Sawyer	Respond to of 56535

Thanks Trader J! I will become a regular I'm sure. Maybe I should join this thread by passing out a stock to watch. Here's one to watch...the ticker is CGPI. It has become a very good rolling stock for me. It's easy to scalp a buck or two when it turns. At this time the technical indicators are showing a declining trend. MACD, CCI, Momentum, Stochastics, and Wilder RSI are all falling and some are crossing into oversold regions. It seems we have a weak level of support at this $11 range. If we break through to the south I would expect a retest of $9 range. If we hold support at $11 I think we will return to $12 and possibly break through $13 this next run. The company has recently gained FDA approval for a product and have said they expect to show revenues from the new product by the end of December. So there is good upside potential with a controlled downside risk. At this time I do not own any CGPI...I'm watching for a re-entry point for another quick trade. Also, if you are a risk taker and like to gamble a little...check out BANY. Read the BANY thread on SI and contact their investment relations company and you might want to take a position. They have just issued a stock dividend on a new Internet company that they still own 27% of. BANY has moved from the .20 range to .80 range and is holding strong. Some things are expected to cause the stock to run well past $1. If nothing else it's an education to watch stocks like these because if you can learn to spot them you can make huge gains. I've tripled my money so far from .25 to current .80 cents. I hope you don't think I'm hyping anything...I'm just passing what I know at this time. Mike