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Office Depot, Inc. Message Board

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  • primemeridian primemeridian Aug 14, 1999 9:21 PM Flag

    August comparative chart

    thanks for asking, but I'm really not all that are some things I see:

    ODP made a "doji
    star" which could be the reversal sign, or may not
    be....candlesticks recommend to not trade on a "doji star", but to
    wait for confirmation....I notice, too, that while we
    did "gap up" a little bit, we stopped right about on
    the ceiling line....(the upper trend line....or, the
    line connecting the "lower highs" of the past
    weeks....what ever that line is called).......

    I'd like
    to see the stock break thru that line before I
    called "bottom".....on the other hand, if we have a down
    day monday ( or couple down days)and break to the
    downside, I'd say there is more downtrend

    we need some confirmation.....

    the 20/50 day
    moving averages have crossed negative on the dow and
    s&p, but I notice that the 13 day and the shorter 9
    day averages have moved upward, and the dow CLOSED
    above both the 20 and 50....(barely, but I think it
    counts)......the transports showed some improvement, but still
    look pretty bad.....

    I think we need some
    confirmation of direction on the general market,

    no clear signals tonight.....and probably won't have
    any at least till the Cee Pee Eye....(or is it the
    Pee Pee Eye)comes out......

    on the good side,
    if we don't get a rate hike, or if the report is
    good and they PERCIEVE that we won't get a rate hike,
    I think the market (and ODP) will rally and this
    will prove to have been the bottom.......

    converse if the news is bad.....

    sorry I couldn't
    be more help....

    good luck

7.32-0.31(-4.06%)Sep 3 4:00 PMEDT