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Guy,
That's basically the old Darvis box theory which I haven't really paid
much attention to. That doesn't mean it's wrong, just that I haven't studied
it. In fact, the top of my Raff Regression Short Term Up Trend Channel is
currently at 54 3/4 and looking at the chart's March high, there is definitely
resistance at 55, so 53 would be a good conservative target. I'm still
holding out for the 80 target and won't cover my position, but if ASND gets to
54 next week I'll sell some barely in the money covered calls for protection.
Jim
-----Original Message-----
From: Guy Gordon
Sent: Friday, May 02, 1997 11:10 PM
To: Jim Greening
Cc: MetaStock-List@xxxxxxxxxxxxx
Subject: Re: ASND
Jim: Another day like Friday, and ASND will be at $52.
My short term target is $53. Let me know if you agree with this
reasoning:
ASND has just broken out of a down trending channel. I put the width
of that channel at $10. For example, on 4/1 the low was 39.5, and on
4/9 the high was 49.75.=20
I put the breakout on 4/30 at 43.75. Can we then expect a rise to
53-54?
Is this valid?
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