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

To: Atticus who wrote (2824)	1/28/1999 12:54:00 PM
From: Dr. Stoxx	Read Replies (2) \| Respond to of 39683

Atticus, Great name! Love that movie! You are very much on the right track. Price has corrected (is resting) after establishing a nice trend upward. The question then to ask is, is it too tired to continue, or will it rejuvenate and carry on skyward? One of the clues to the answer is volume. And that is what would concern me with FORE right now. Volume is declining. What you want to wait for is a day or two of increasing volume, accompanied by a close each day above the day's open (green candles). The stock did this back in mid-November, two days before it popped up for a nice one day gain. That pattern is a sure sign of institutional interest, and/or insider buying. Keep us posted, TC.

To: Atticus who wrote (2824)	1/28/1999 2:48:00 PM
From: Charles Kalb	Read Replies (1) \| Respond to of 39683

Hi Atticus.......My 2 cents on FORE FWIW. Just looked at FORE and my conclusion is that at 17ish it presents a good risk/reward ratio right now for a short term trade. FORE has been in a moderately rising channel since early October with no surprises. I used a standard error channel but also looked at a bunch of other indicators. Right now the stock is following along immediately above the lower error band. Unless fundamentals degrade short-term or broad market takes a tumble short-term I see no reason why FORE should break below the lower error band. The top of the error band is now at about 23 and the upper Bollinger band is at about 21.5; these are potential targets. Over the last five days including today the price is creeping slightly upwards on average and away from the lower Bollinger band which is still declining. This pattern often precedes a sudden move to the upside. In summary, I like FORE. In fact I just put a few chips down on Green. Charles