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Harley,
Thanks for the charts. I know I may have to wait a while for a good move
out of this one, but there is also the chance that it might pop soon. Did you
see my earlier message to Guy on PAIR? I always go with the trend.
Therefore, I would never short a stock at the top of an up trend channel. I
only short a stock at the top of a down trend channel. I learned that lesson
the hard way over the years <G>. I don't have enough data yet for an accurate
short term channel, but once I do, I'll probably just sell covered calls at
short term channel tops for protection and to skim some time premium.
Jim
-----Original Message-----
From: Harley Meyer
Sent: Sunday, May 18, 1997 2:07 AM
To: metastock-list@xxxxxxxxxxxxx
Subject: LTX- Gif1
Jim,
To me the short term upside potential is good but risky. Too me though monday
would be a wait and see day. I enclosed a few gifs. This is the stochastics
and
it is extremely overbought. Hence if it runs up in the next few days and then
starts to slide back it will be a good short candidate since it will be at the
top of the channel.
The other gifs are of a weekly JF and a daily JF. I maid comments on the GIF.
Harley Meyer
meyer093@xxxxxxxxxx
size 29485
<< File: LTX.GIF >>
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