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

To: Len who wrote (2252)	12/17/1998 1:00:00 PM
From: Kevin Shea	Respond to of 56535

A quick assessment.Stock appears overbought both weekly and daily. It's at weekly resistance. The recent advance ran directly to resistance on good volume. Needs to break out at 47+, if it does, nice.... Too "toppy" for my risk tolerance. I'd look to buy on pullback. Watch volume for distribution. The end of a nice 25-30 point run would be a great time to take profits. Do you know what fundamentals made it move? Is the sector strong? If sector is strong it might support the push to breakout. Of course, these are only my opinions - - I may be wrong. Good luck