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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: SpecialK who wrote (3874)12/8/1998 7:42:00 PM
From: LastShadow  Read Replies (2) | Respond to of 43080
 
WAXS

Nope, don't follow it, and after lookng at the chart, don't see any reason to. It basically tanked, everyone bought, the daytraders sold off, and it ended the day where it started. I don't know what drove it dow n at open, but unless something really good is going on, the chart doesn't look good for a hold to me - not because it will go down, but because it doesn't look to move at all. But then, I don't follow it, and that was purely a chartist's view looking at the 5 minute and daily.

ls



To: SpecialK who wrote (3874)12/8/1998 7:55:00 PM
From: Dave Shares  Read Replies (2) | Respond to of 43080
 
Ketan,

For what its worth, and my opinion and 25 cents pays for a local call at the pay phone, WAXS is a good company with a good future. But I do not think this is the time to own its stock. It is going through acquisitions, and as LastShadow pointed out, the chart does not suggest that it is going higher right now. It may not have found a bottom, and I don't see where it can be said to be in an uptrend.

David


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