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I have a ghoulish interest in failed breakouts. It is kind of like my
penchant for going to car races to see crashes and hockey games to see
fights. MRK, Merck, in the same business as ABT seems to be rounding over
for a move south too. The last few weeks seem to offer a good text book
picture of "distribution". Presumably we will head into "markdown" shortly
(pardon the pun). Please don't try this at home though, I am not
recommending a trade.
Dan
>From: "Gitanshu Buch" <onwingsofeagles@xxxxxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxx
>To: <realtraders@xxxxxxxxxxx>
>Subject: [RT] STK: ABT Abbott Labs
>Date: Fri, 15 Dec 2000 11:11:45 -0500
>
>There was some desire to see failure CANSLIM breakouts in action.
>
>ABT is one, in my opinion - with multiple technical formations.
>
>See attached WEEKLY chart as the daily tests the 200 day ma.
>
>As an aside, implied volatility in ABT has been tracking the bottom 10% of
>its annual range for well over 4 weeks now. Good opportunities exist for
>long vol spreads in spite of this week's action - though the daily options
>volume is relatively thin.
>
>Gitanshu
>
>
><< snap.gif >>
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