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Sprint Corporation Message Board

  • Tech_trac Tech_trac Sep 13, 2000 4:09 PM Flag

    5,000,000 shr Tug-of-War in $1 1/4...

    RANGE @ a price level of an 8 P/E. The
    significance of $36 is that that level previously provided
    support on numerous occasions, before the collapse,
    however on the P&F chart the most congestion was @ $37.
    I'm gambling that the $37 level will be breached
    before the current move aborts(if it aborts). I hope
    retail sales numbers provide the catalyst to extend the
    current move.

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    • turning your P&F technique backwards and buying
      on the sells and selling on the buy signals. That
      method would have given you decent trades this last few
      months. You had a "sell" at 30, which would have been a
      very good buy. Have you gotten a "buy" recently? Prior
      to the sell you had a buy at 35 which really was a
      reasonable sell.

      What do you think?

      My naked
      calls are wasting very nicely.

      Why do you
      "gamble" that an easily recognizable resistance (the
      unfilled gap) will be breached?

      • 1 Reply to paulohl
      • In one of my numorous posts, I indicated that
        after a SELL signal, you get a throwback to a previous
        congestion area! It came and I didn't exit @ my initial
        $35.00 level or the $36 1/4 level. I got my second
        chance but as I posted I pulled the sell order. In my 34
        year career in the securites industry, I have only
        used MENTAL STOPS! In most cases, you get your chance
        to exit on a rally to the previous support
        level.

        P.S. I'm not the one who has expressed a disdain for
        your technical approach, so laughing at me settles no
        score. Missing the rally to $36, subjects me NOW to
        Ridicule! Oh well S is my only loser (except for HM) but
        even with AU GG.a has more than compensated me for the
        HM folly.

        HAPPY TRADING

 
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