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thanks
for pointing me in the right direction. According to Nison's first book a
pieercing pattern is a bottom reversal pattarn where a dark cloud cover is a top
reversal, however we have this dark cloud cover engulfed by a white candle which
has the potential to presage a rally if it takes out and holds the top of the
dark cloud. To do this it will have to take and hold the 60 level which it has
tested 18 times since June, some as support and some as resist. If we break to
the down side my target is 52 not the prev discussed 34. There are some other
strong points. Todays high is at the 62%rt of resent fall. If this is wave b in
a ZZ then a 62% wave C (of wA) would hit 52 which is the 50% RT of the advance
from 9/27. This would also set up a 62% wave c or the advance to strong
resist around 67.
<SPAN
class=420514304-26102001>
<SPAN
class=420514304-26102001>Regarding why try to short a strong stock, because this
stock moves both ways - 30 points short in 3 months overr the summer, another 30
points the first of the year and 50 points down mid last yr.
<SPAN
class=420514304-26102001>
But
lets not predict, lets react to what the mkt gives us.
<FONT face=Tahoma
size=2>-----Original Message-----From: M. Simms
[mailto:prosys@xxxxxxxxxxxxxxxx]Sent: Thursday, October 25, 2001
11:54 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: RE: [RT]
Ebay
<SPAN
class=530182003-26102001>Known as "Piercing Line"
formation.......
<SPAN
class=530182003-26102001>meaning: if recent trend is bearish, wait for
confirmation, otherwise buy immediately.
<SPAN
class=530182003-26102001>
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Lee Morris
[mailto:LMorris@xxxxxxxxxx]Sent: Thursday, October 25, 2001 6:27
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: RE: [RT]
Ebay
<SPAN
class=620361622-25102001>This is seems like an odd candle pattern on weekly,
ANY COMMENTS
<FONT face=Tahoma
size=2>-----Original Message-----From: Lee Morris
[mailto:LMorris@xxxxxxxxxx]Sent: Thursday, October 25, 2001
5:57 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: RE:
[RT] Ebay
<SPAN
class=500003921-25102001>I also used your 57 # to stop out of my short
(actually I used the cross of the 5 and 15 ma on the 15 min combined w/
the breakout to get out at 56.6 for only a slight loss which was then
confirmed by the break of prev peak at 57. It looks like you use a lot of
price action vs. indicators (hi of 10-16 and 10-24)... what ever it worked
well this time. At this time my guess is that we will see 63.60-65.6 btw
now and the 29th but I agree that I would do a wait and
see.
<FONT face=Tahoma
size=2>-----Original Message-----From: Ira Tunik
[mailto:irat@xxxxxxxxx]Sent: Thursday, October 25, 2001 5:04
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
EbayDoes your chart give you a sell
signal? It looks to me like it says, takeyour profits here at
the channel top and let us see what happens next.
Mychart looks a little differently then yours as I use different
indicators, butthe result seems to be close. My first post
gave an entry price of 57.5 andan initial target of 59 which could
run to 63. So far nothing has happened tochange that
call.David Neeran wrote:> not a good time to short
this, eh?>> >From: Ira Tunik
<irat@xxxxxxxxx>> >Reply-To:
realtraders@xxxxxxxxxxxxxxx> >To: realtraders
<realtraders@xxxxxxxxxxxxxxx>> >Subject: [RT]
Ebay> >Date: Thu, 25 Oct 2001 12:44:05 -0700>
>> >Well here is the resistance at 59, now let us see if it
can go the rest> >of the way after some consolidation.
There are always two trades, one> >up and one down. Like
crossing the street, you should always look in> >both
directions. What will it take to go higher from here and what
will> >it take to go lower. Two questions your system
should answer for you.> >Ira.> >>>
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Name: eBay Inc. (NM)- 15 minute.jpg> eBay Inc.
(NM)- 15 minute.jpg Type: JPEG Image
(image/pjpeg)>
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