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Biotech / Medical : Alseres Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Tim K who wrote (636)	2/13/1999 10:34:00 AM
From: TATRADER	Read Replies (1) \| Respond to of 975

Tim, I am long this stock for technical reasons..Usually only around for a day but this is one stock I plan to hold for about 2 weeks... The stock is in a pennant formation, with base of pennant at 6.00 and top of pennant at 7.37....The pole measures from 4.75 to 7.37...Differential is 2.62...Add 2.62 to apex at 6.00 and it gives my two week price target of 8.62..Now obviously we are at the apex of the pattern, awaiting the break...The directional indicator is still positive, so that leads me to believe the break will be to the upside..I have overhead calculated at 8.90-9.00 level, and it is a ton..The news will have to be awfully good to take it out and move it to the teens...If you look at the recent volume spikes with positive closes, it leads me to believe we have smart accumulation going on in the stock..Smart money in position with 5.00-6.00 as their fill.... My problem as a trader is that I tend to fall in love with patterns at times...Do much better when I don't hang around...Longer I hang around, the more chance for something to go wrong... Take care...Regards, Mark