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Harry,
SCOP looks like a good horizontal channel trade to me. It has bounced
back and forth from the top to the bottom several times in the last six
months. I try to get in around 22 and out at 34. If your lucky, you may be
able to do that several times. TSRI isn't a well defined. You could try
buying around 19 and selling at 34, but I'd be careful here. For either case,
I'd set stops just below the bottom of the channel.
Actually, I prefer long trades in rising channels and short trades in
declining channels, using horizontal channel breakouts for trend change
signals.
Jim
-----Original Message-----
From: Harry J. Kobetitsch
Sent: Monday, July 07, 1997 8:34 PM
To: Metastock Newsgroup
Subject: Channel Pick
I have looked at Scopus (SCOP). Great earnings record but I wonder why
the stock keeps trading between 20 and 35. Using TA looks like a good
buy
at today's close with a good possibility of hitting 35. Any comments?
PS. For the same reasons stated above I like TSR (TSRI). Any comments
on this one?
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