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Hi Jerry,
Both stocks showed a potentially overbought situation in that they were close to recent highs but
dropping below those highs. Along with that both showed recent
down days and more overhead resistance than support. DMI appeared somewhat confirming in MIR and
nonconfirming but at least noncontradictory in EAT. Both
showed stochastics dropping from overbought along with price movement down from the upper BB. With
this I would require price confirmation to take it as a
valid signal to go short. Since you would also require price and volume confirmation to go long our
ideas perhaps can both make sense.
I'm looking for other stocks to trade for tomorrow. Please write me if you have any stocks you
think I should consider.
Best wishes,
James
GREHERT wrote:
> I've looked at EAT and MIR with my volume flow indicators and they look
> somewhat bullish. I'd buy them above the recent highs on big volume. Why did
> your indicators suggest shorting them?
>
> (PAH & NU, I don't download.)
>
> Jerry Rehert
> January 26th, 1998
> @ 06:04 am
> Atlanta, GA
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