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<DIV><FONT size=2>All,</FONT></DIV>
<DIV><FONT size=2> A much needed up week for a change,
now if we can only get a few in a row. Even with the up week, I had a lot
of portfolio rotation. I did add the MSFT position on Tuesday.
On Friday, IOM and PMRY closed below my stops so I'll close those positions
Monday morning. Looking at the indices, The DJI did bounce
nicely off the bottom of its Intermediate Term Up Trend Channel (ITUTC) and
all the other indices I follow were up for the week. Therefore there
is no reason to change my opinion that we may be starting the summer rally
and I will play it with a mix of small and large cap stocks. The only
black cloud on the horizon is Guy's short signal and he says it may be a little
early. If he's right, and he has been very accurate, we could see most of
the indices rise to test last month's highs and then retreat from the double
tops. That's not what I'm predicting, but I'll sure be on the look out for
it <G>. In the mean time, I'll proceed as planned.</FONT></DIV>
<DIV><FONT size=2> This week I'm going to add both a
small cap and a large cap if they break out. My pick for the large cap is
Schwab (SCH) and for the small cap it's Chart Industries (CTI).</FONT></DIV>
<DIV><FONT size=2> SCH at 101 is being pressed into a
corner formed by the top of its Short Term Down Trend Channel (STDTC) and the
bottom of its Intermediate Term Up Trend Channel. One or the other, has to
break and I think the better ITUTC will hold. However, just to play it
safe. I'll wait for the STDTC to break and place a buy stop just above it.
SCH hit an all time high at 155 on 4/14/99 and then fell to a low of 96 1/8
Wednesday. That's almost a 40% correction in two months and should be
enough for a strong stock like this <G>. The StochRSI
indicators look like they could be setting up for a buy signal with the 13
negative but moving up and the 55 looking like it is near a negative peak.
The fundamentals are good except for the price/sales and P/E which are
still very high at 13.54 and 94 respectively. However, this is offset by
a 30% annual revenue growth and a 54% annual
earnings growth. I'm going to enter a buy stop just above the
top of the STDTC at 108. If I don't get the position and the stock
doesn't close below the bottom of the ITUTC, I'll move my buy stop down each
day just above the top of the channel. If I do get the position, I'll
set my target just below the April high at 154 and my stop just under the bottom
of the ITUTC at 95 3/4.</FONT></DIV>
<DIV><FONT size=2> CTI at 9 5/8 looks like it is trying
to bounce off the bottom of its STUTC. The top of the MS standard
deviation STUTC (dev at 2) is at 13 1/2 and the bottom (dev at 1) is at 9
1/2. It set an all time high of 23.29 on 4/27/98, then fell to a
low of 5 1/8 on 10/09/98. It then rose and broke out of its Intermediate
Term Down Trend Channel (ITDTC) then moved sideways to form a 7 month long
Horizontal channel (HC). It broke out of the top of that HC a month ago,
pulled back into the HC then broke out again two weeks ago. It ran up for
a week then fell back to the bottom of its STUTC and the top of the old HC to
its current position. The Tema Binary Wave and QStick are both
positive indicating an up trend. I'm going to enter a buy stop at 10
which is just above Thursday's high. I'll leave that buy stop in place
until I either get the position or the stock closes below the STUTC. If I
get the position, I'll set my target just under the all time high at
23. I'll set my stop just under the bottom of the STUTC at 8
3/4. </FONT></DIV>
<DIV><FONT size=2> I'm sending SCH.GIF and CTI.GIF
charts to everyone on my email list.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>JimG </FONT></DIV>
<DIV><FONT size=2>
</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sun Jun 06 18:41:21 1999
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