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What a day! ASND hit $53 1/2 intraday. Are you still looking for
$54-55?
I didn't pull the trigger at $53. The market looks so strong I just
couldn't. (I may live to regret it.)
The fast Stochastic tipped over today (Stoch(5,3,3)). That's my first
short term sell signal. But I haven't seen anything to confirm it.
On the other hand, I did sell my ANAD today at 33 1/2. I believe I
got the high price of the day. If you draw a resistance line thru
the highs of 1/31 and 4/7, you get exactly my target price.
The support line goes thru the lows of 2/28 and 4/21. I bought at $24
on 4/21, just above the low. That gives me a gain of 40% in 10 days
:-). As good a channel trade as I ever made.
On Sun, 4 May 97 01:26:08 UT, you wrote:
>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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