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Steve,
FWIW the attached "weekly" Unleaded Gas chart would support your long
position on Chevron (in a longer time frame) with higher prices likely ahead
(as the wave 5 target range is approached). The previous wave 4 retracement
came in just above the 50% level (wave 2 to wave 3) and it had a well
formed ABC pattern to it, which I generally prefer to see in a wave 4. All
in all, a textbook EW pattern has been unfolding (so far) on the weekly.
The MOB target area ("make or break" starts at 130 (to 134.80) from the
current price of 111.69) and it might be a good "get off point" if your long
recommendation on Chevron works out. The timing marks on the MOB indicate
the possible timeframe for this price advance (1st black vertical timing bar
is the week of 6-1 and the 2nd the week of 9-14, with a half way point the
week of 7-27, rough halfway points I am told (Earl) tend to come in more
than the second timing bar).
>From the daily chart you posted, there may be several buy and sell points
between now and the target area of course. Thanks for sharing this "equity"
trade though, one worth watching it would appear!
Good luck and good trading
don ewers
----- Original Message -----
From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>; <metastock@xxxxxxxxxxxxx>;
<Metastockusers@xxxxxxxxxxxxxxx>
Sent: Friday, May 25, 2001 11:21 PM
Subject: [RT] Back in the oil bidniz, please help me mr. president
List,
I seldom publish equity buy signals to the list. But, here's a play to
ponder. I slapped on the fib retracements for a special three day, weekend
treat. It's a real piece of "eye candy".
Buy and sell arrows are automatically placed by a Chande Momentum
Oscillator, triggering signals, at symmetrical, equal distances from a
center baseline.
Anyone with decent analytical software, should be able to recreate this
success with the CMO, a good StoRSI, or reliable momentum oscillator of
there choice. All it takes is a lot of research work.
Happy Holidaze,
Steve Karnish, Financial DJ
Cedar Creek Trading
http://www.cedarcreektrading.com
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