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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: go4it who wrote (2805)	1/26/1999 9:57:00 PM
From: Caroline	Respond to of 39683

CB, If you look at NWAC here: timely.com Notice that the price action stopped its downtrend in October 98. The trend is now flat. There was an unusual volume pattern at the peaks of late November 98 and mid January 99. The volume and peaks make this a hard-to-see double top. The price is sitting on the 40 day MA, but this whole area ($20-26) is "support" or "resistance" for the next move. The question is, is the next move up or down? Stochastics would say "buy," except that indicator has not been a good predictor of this stock's action. One thing for sure, the price is way below the 200-day MA. I would consider this stock again when and if the 40 moves higher and crosses above the 200. Good luck with it, (the other) CB

To: go4it who wrote (2805)	1/26/1999 10:09:00 PM
From: Caroline	Read Replies (1) \| Respond to of 39683

CB, As I look at my list of 15 or so stocks I watch each day, I'm struck by the NWAC pattern as compared to Citigroup: C: timely.com Here we also have a flat trend after a recovery from a steep slope downward, but with some bullish differences. First, the 40 day MA is moving up -- even when you can't tell if the stock is flat or moving up, the MA will always give you the truth. The price of C is moving up. As the 40 day MA ascends, it is about to cross over and above the 200 day MA -- just as I said you'd want to see with NWAC. If you are a fan of TA patterns, you will note that the two moving averages are actually drawing an ascending triangle right onto the page for you, no rulers required. Stochastic says "buy" and it is a reasonable, though not great predictor for the price of this stock. This consolidation phase is lasting longer than I would have thought, but if I could time these things I'd be richer than I am. (the other) CB