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To: A. Geiche who wrote (36291)1/30/1999 8:09:00 AM
From: Thomas J Pittman  Respond to of 95453
 
You should have read the rest of my message.
The part about letting it (the knife) lie
there for a while means that you dont have to
try to be the first person on the planet to detect
THE lowest point on a stock chart. Bottoms
like tops are curves. My point was that we
should just try to be somewhere near the low
end of that curve and not spend our intellectual
and emotional energy finding the exact bottom
for entry.

Thanks for the comment. I had not been clear.

J



To: A. Geiche who wrote (36291)1/31/1999 2:33:00 AM
From: SkyDart  Read Replies (2) | Respond to of 95453
 
For Thomas:

I would agree that the market must show you a bottom. It is folly to pick a bottom.

HOWEVER:

I maintain that the market is in the process of demonstrating a bottom in PDE because of:

1). Triple chart bottom.

2). Decline on low volume.

3). Triple bearish divergence between price and MACD.

4). Bearish divergence between OBV and price.

5). Bearish divergence between Price RoC and price.

Dart


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