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All,
Another good week. Even with taking profits in Deere (DE) and Bear
Sterns (BSC) and replacing them with Trump Hotels & Casino Resorts (DJT), Ivax
Corp (IVX), and Schwab (SCH) my overall portfolio made a nice move. Not as
good a move as the DOW, but I guess I shouldn't be greedy. With all the
changes, I'm fully invested except for the money I was holding back to
re-enter ASND, CSCO, or COMS. I think it's time to use that money on Three
Com (COMS).
COMS at 47.562 looks like it broke out of the two week down trend channel
it was in since I was stopped out of the stock. It's still in the Long Term
Up Trend Channel (LTUTC) with the top at 86 and the bottom at 26 1/4. It's a
little hard to tell with a Raff Regression channel on less then two weeks
worth of data, but I'm going to be optimistic <G>. The high at the end of May
was 51 1/8. If COMS closes above that high, I can redraw the short term up
trend channel according to Trader Vic rules and set my stop based on that
channel. The indicators look good and I'm hopeful that COMS is just about
ready to take off again. I'll open a position Monday morning if the market
looks OK. I'll set my stop at 42 3/4 just under the 43 low set a couple of
weeks ago. The target will be just under the top of the LTUTC at 85.
Jim
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