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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Ms. X who wrote (527)	3/11/1999 9:20:00 AM
From: Don Pueblo	Read Replies (2) \| Respond to of 63513

Damn! Jorj can pick the charts! That deal looks like a superb entry on the breakout above 10 5/8. My calculations are not based on the recent highs and all that "resistance" jazz that Bob Pisani likes to yap about, but in this case, everybody has the same thing coming up on the entry point. (Which is the only thing that scares me!) Had I had the stock on my radar, I would have gone long on my RSI signal at 7 7/8, but then I probably would have bailed out at 10 1/2. 23 institutions own 23% of the stock, but the balance sheet looks kinda weak. (I hate that.) Today is day 3 of the run. I see the next stop at 15 13/16, (again, not based on the old highs, or the 52 week of 15 1/4, which if taken out will get all the day traders screaming) with good support at 10 1/2. At this point, on a TA basis only, I would wait for the stock to pull back below 11, or just console myself that I missed it. For a day trade, yeah, but I don't jump on a position trade on day 3 of the run. I'd be on it at 10 7/16 and ready to jump off the train if it went down. I think I need to learn P&F. <ggg>