[RT] RE:BEAS

["Haytham Albizem" <H.Albizem@xxxxxxxxxxxxxxxx>]

Hi GK,
 
You asked me earlier today "Haytham,  I assume 
you are sq rooting from the 5-22 high for BEAS. I am curious to know, would you 
not want to sq rt from the 5-30 low ?"
 
In fact, I sq root 5-30 and that should have answer 
your question directly, but I wanted to say more so I waited until the evening 
to send this message.
 
I have posted on 6/3/200 message # 2200  
stating my analysis of BEAS : I expected retracement to be 180 degree based on 
the previous behavior of the stock and in fact I had a short position in BEAS 
opened 5/29/2001 with target 180 degree retracement which will be around 30 as I 
stated in a follow up post.
 
on 6/5/2001(I was watching 6/4/2001 +/- 1 trading 
day as turning point) the trend change to up, I covered my short with a minimum 
profit of ~70 cent per share and went long, I re-analyzed my calculation to find 
out what happen, this is what I found:
 
I have used increment of 180 degree as resistance 
level(based on previous history of the stock)----I should have used smaller 
increment of 45 degree(0.25) and watch for signs of reversal at each level if 
the time is balanced or it is turning point. If I used that then the square root 
of the high 5/22/2001(42.75) minus 0.75 (increment of 0.25) then resquare you 
will have 33.50, the actual low 33.54 :-)
 
Now if you take 5/30/2001 low 33.54 then square 
root then add 0.50(increment of 0.25) then resquare you will have resistance 
level at 39.58, now look what happen when the price reached that level on 
6/6/2001 using candlestick 60 min bar and volume, you will see Doji bar at open 
with high volume indicating resistance level then you will see war between bulls 
and bears in the subsequent bars until this morning when the bulls won the 
battle and I have alerted the list ahead of this advancement.
 
I hop above explain what was my thinking process, I 
could not explain what I want to say during the daytime.
 
regards,
 
haytham






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