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Guy,
It's never too early to claim victory <G>. Looks like you were right on
the first resistance. ASND closed below my Raff Regression Short Term Up
Trend Channel (STUTC) yesterday which is my normal sell signal. However, when
I checked it to close the position this morning it was up 1 3/8 and back
inside the STUTC. Since Raff Regression channels on limited data aren't as
good an indication as a longer term Trader Vic type channels that has been
confirmed a few times, I decided to wait and see. If it drops back out of the
channel, I'll close the position. If the channel doesn't hold, my next
support is at 45. If it drops through 45, then 38 1/2 is the bottom of the
Long Term Up trend Channel. My best guess is that yesterdays break of the
STUTC was a false break out, and the STUTC will hold. If that happens, I'll
still be looking to sell covered calls around 57.
Jim
-----Original Message-----
From: Guy Gordon
Sent: Wednesday, May 07, 1997 10:27 PM
To: MetaStock-List@xxxxxxxxxxxxx
Subject: Re: ASND
On Tue, 6 May 97 20:27:11 UT, you wrote:
Jim,
Is it too early for me to claim victory? :-) ASND hit 53.5
intraday. If anyone sold at better than my target of 53 they were
damned lucky. =20
Now for the downside target. Would you believe 40? Just a WAG, but
definitely below 45.
Your comments on options are very instructive. Options are SO much
more complicated than stocks, and I don't have much experience there.
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