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Jim--Look at the BBY formation starting 3/18. The declining volume could
indicate an early H&S top forming. The neckline is there.
Norm Wiss
cutup@xxxxxxxxx
----- Original Message -----
From: Jim Greening <JimGinVA@xxxxxxxxxxxxx>
To: Metastock <metastock@xxxxxxxxxxxxx>
Sent: Wednesday, May 05, 1999 10:35 PM
Subject: MidWeek Pick
> All,
> I canceled my WMT buy stop since it closed below the channel and I'm
no
> longer interested in it. However, I'm still way over 50% cash with stock
> positions in CPU, FLC, IOM, and SCH along with LEAP calls on DELL and ABT.
> I think it's time to start converting that cash back into large cap stock
> positions. I'm going to use the strategy I described in the weekly pick
> where I try to catch stocks bouncing up off the bottom of up trend
channels
> by placing buy stops just above the previous day's high. I'm going to
> p[lace good to canceled buy stops on AOL at 134, BBY at 49, and C at 74.
> All three spiked below the bottom of their channels this morning, but
> reversed this afternoon and closed above the bottom. I'm hoping that's a
> sign that the channels will hold.
>
> JimG
>
>
>
>
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