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Shakeout!April 26 2002 at 5:17 AM
No score for this post | ASA Ltd. [ASA]
from IP address 209.240.222.132 |
| ASA
This message has been edited by tedwarren from IP address 209.240.222.131 on Aug 10, 2002 8:35 AM
This message has been edited by tedwarren from IP address 209.240.222.131 on Jul 21, 2002 7:38 AM
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| Author | Reply |
Rick
209.240.222.131 | Shakeout or distribution?No score for this post | July 1 2002, 7:04 AM |
It's hard to tell whether the latest drop is a shakeout or a distribution.
I was in at 26 and I was looking at getting out at 52, but it's only been to 40 and is now back to 30.
It seems to me that the breakout only clearly occurred around 25, having hit the low 20's several times in the past few years. I'm a bit surprised at this latest drop.
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Rick Potvin
209.240.222.131 | I'm on my way!No score for this post | July 21 2002, 7:44 AM |
ASA is at 33 today. I'm looking at my Horsey chart for the first time, and it appears a bit different than the Bigcharts chart.
There has been an accumulation period from 1998 through 2001, a good 3 years. The break above $26 was barely enough to indicate a TW rise, so I think I was premature on getting in. Now that's above 30 again, though, I think that this is enough to indicate it's on its way.
Going back to the 1980's, highs were $70. So hitting $52 shouldn't be a problem if history is to be a guide. I just might lower my target on this one to $40 just in case I'm not looking at this quite right.
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Rick Potvin
209.240.222.131 | I'll treat latest downturn as shakeout.No score for this post | August 10 2002, 8:34 AM |
I've been looking at a run from 26 to 52 before selling. We've gone back to 29-- after a high of 40 a few months ago. I'm still going to look at this as though its a shakeout.
It now looks as though it may take a year for it to get to 52, however.
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