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On Tue, 29 Jul 1997 11:33:39 -0400, Jim wrote:
> I don't own QNTM, but I do have it in my database. It hasn't broken
>out of my Raff Regression Short Term Up Trend Channel yet. I have the
>channel starting on 6/26/97, ending on 7/24/97 and extended top the right.
>Based on the short and intermediate term trends, I'd have the target at 31
>and the stop at 26 3/4.
OK, I drew your channel, and QNTM broke it today. And I can see why
you chose 6/26 as a starting point, as a reversal day.
But I like this channel better: Raff Regression from 5/30 to 8/25.
Note that 5/30 is ALSO a reversal day.
The reason I like this channel better is that the lower line
corresponds to the 26-day MA for almost the entire month of July.
And the top line of the Raff corresponds to a line draw through the
highs of 6/17, 7/16, 7/23, and 7/24. These two things validate the
trend for me.
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