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Guy,
I don't hold it, guess I was dumb <G>. I think we are in violent
agreement on this one. Again my channels are slightly different due to the
CandleVolume charts I use. If I did hold it, I would have sold covered calls
last Wednesday.
Jim
-----Original Message-----
From: Guy Gordon
Sent: Tuesday, May 13, 1997 12:42 AM
To: MetaStock-List@xxxxxxxxxxxxx
Subject: GE nearing top of channel
Anyone holding GE stock (and if not, why aren't you?):
GE is nearing the top of its long term channel. And I do mean
*long-term*. GE has been above this support line for over two years.
This line is almost exactly the 170-day Moving Average.
I'm not sure of the exact location of the resistance line, but I make
it out to be 61 1/2. GE hit a high of 60 today.
Of course, that does NOT mean it is time to sell GE or write covered
calls. A stock can spend a long time at the top of its channel.=20
What it *does* mean, is that it is time to watch for sell signals in
the RSI.
Any comments?
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