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Re: lowtrade post# 2987

Friday, 06/10/2005 5:30:04 PM

Friday, June 10, 2005 5:30:04 PM

Post# of 44374
Let me add two cents to the TA discussion. Mide/Lowtrade...you have great points about the possible trading ranges and I've looked at both as objectively as is possible for somebody who believes in the company, but let me add this...I do think that $2.53 was the bottom for the current range we're entering. And after today I'm thinking that $3.21 was the top(see the chart). What we really don't know is what "type" of pattern it will form and there are a few possibilities. Ascending or descending triangle, pennant and flag. I have no idea which it will be of course until the next "bottom" and "top" are put in, but I think when those two occur, we'll have a better idea how to trade GTE. My gut tells me it's gonna' be a pennant with higher lows and lower highs in the absence of substantial news. So my guess would be to buy in the $2.60 area and sell in the $3.10 area with an even narrower range the next time and trend lines will provide the guide lines. It could be one of the other patterns too(ascending/descending triangle), but we really won't know until we see it happen. GLTA

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