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Guy,
I gave up predicting a long time ago, but I'll be glad to watch. As for
what your broker thinks, he's entitled to his opinion <G>. I think it's
always good to experiment with new techniques and systems as long as you don't
actually use them until they have been proven. You never know when you might
uncover a jewel.
Jim
-----Original Message-----
From: Guy Gordon
Sent: Thursday, June 05, 1997 12:44 PM
To: Jim Greening
Cc: metastock-list@xxxxxxxxxxxxx
Subject: Re: ASND
Jim,
Well, ASND is down again today. But I think the bottom is near.
Right now, at 46 5/8, it is just below the 50-day MA.
Now I want to engage in an admittedly dangerous exercise: I am going
to predict the bottom of a channel we have not yet seen.
Take the top of the new channel to be the line from the highs of 5/5
and 5/28 (i.e. 53 1/2 and 60). These are 16 days apart, with a ratio
of 1.1215. I want to draw the bottom of the channel through the low
of 4/22 at 36 1/8, and with the same slope as the resistance line
above.
This line will go through 5/14 at 40.514 (4/22 + 16 days, and 36 1/8 *
1.1215). That same line will go through 6/5 (today, another 16 days)
at 45.436.
That is my target price, *if* ASND reaches its low today, or perhaps
tomorrow at 45 3/4.
My broker thinks I need help. =20
What do you think?
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