 |
VERITAS
SOFTWARE (VRTS)
Nasdaq
Report
No. 1286 Analysis
by: Harry Aloof MAY 21, 2002
|
|
VERITAS
SOFTWARE (VRTS-Nasdaq):
Technical Viewpoint: From a low
of $55.25 on Mar 26, 2001 prices rallied,
reaching a high of $72.60 on May 4,
2001. A decline saw prices pull back,
reaching a low of $60.43 on May 14,
2001. Another rally saw prices penetrate
resistance, closing 5/18/01 at $73.81.
Technicals: MACD-Histogram (MACD-H):
A Buy Alert! was given on Apr 20,
2001 when the Histogram crossed the
"0" line to the upside. Support:
Remains at $62.50. Resistance:
Is at $85.88. Point & Figure:
Reversed to the upside on May 15, 2001.
A P&F downside reversal takes
place at $71.00. Summary: Technical
indicators have turned bullish. BUY!
VERITAS SOFTWARE (VRTS-Nasdaq)
@ $74.62 Stop: Use a protective
stop of $71.75. VERITAS SOFTWARE
is currently trading @ $73.81 plus $4.61
on May 18, 2001. Price Objective:
$106.00. Risk/Reward: $2.87 VS.
$31.38. Today's Risk Reward Ratio:
11:1
|
Three Part
Technical Chart
Daily
Candle Stick Chart
Point & Figure Chart
Technical Study
Price
Objective:
$106.00
Risk/Reward:
$2.87 VS. $31.38
Risk/Reward
Ratio:
11:1
|
|
 About Wall Street Trader's Column™
Why the Report Works?
Disclaimer
|
About
WSTraders Column™
|
| |
Wall Street Trader's Column™ is the
result of over three decades of experience
in the stock and commodity futures marketplaces.
As a subscriber, you will benefit from
years of in-depth study of technical analysis
and how these studies can be implemented
to make you money. Here at Wall Street
Trader's Column™, we screen over 9000
stocks daily--from all major exchanges.
About the Editor Harry Aloof's
business background as a technical analyst
for the commodity futures and US stock
markets spans nearly three decades.
In 1980 he became a member of CompuTrac/Technical
Analysis Group, and in 1988 he became
affiliated with Shearson Lehman Hutton
as a financial consultant. Mr. Aloof
became registered as a Commodity Trading
Advisor (CTA) with the National Futures
Association (NFA) and established his
own private advisory firm in 1989.
Harry Aloof is a student of
the Tape Reading Art. When studying
Technical Analysis back in 1968, Mr.
Aloof learned tape reading from one
of the largest single traders of the
day. Mr. Aloof incorporates his choicest
tape reading selections in his technical
analysis.
Harry Aloof has expertise in
stock selection via technical analysis.
After researching and testing various
technical methods for more than two
decades, he developed and now uses a
process called LOW-RISK ENTRY POINT™.
This process is used as a determining
factor for success in the stock market.
You should consider using the LOW-RISK
ENTRY POINT™ as a guide for purchasing
stocks. You will then have the necessary
edge and ability to accumulate shares
at better prices. This will enable you
to build larger positions at better
price levels.
|
|
|
|
Why
the Report Works
|
| |
Three Strikes and You’re Out: Our stops are close
to the market. We will not risk more than
3 7/8 on any trade. If we get stopped
out of a position, we have two more opportunities
to re-enter the trade if it penetrates
the buy point again. After getting stopped
out a third time, we call the trade a
bust.
Protective Stops: This is the price
at which a protective stop should be
entered. As position advances, stops
should be adjusted accordingly. Each
buy recommendation comes with a BUY
STOP. This is the low risk entry point
that you should consider when making
a purchase. If the stock does not reach
this price then it does not become a
buy candidate. If in the following days
the prices of the stock reaches the
BUY STOP or higher then you may consider
purchasing the stock. Once a purchase
is made then use the recommended protective
stop as indicated in the report(*) Should
the stock advance move you protective
stock up accordingly.
Example : XYZ Corp closed at 50 the previous day.
A) A buy stop recommendation
of 50 5/8 is made with a protective
stop of 47 5/8 (A difference of 3 points)
B) Now should the stock advance to 55 5/8 than
the protective stop would be 52 5/8
C) Keep advancing the stop as the stock moves up
until the stop is penetrated and you
exit the position.
|
|
|
|
Second
Day Syndrome
|
| |
How to Capitalize from "The Second Day Syndrome"
“The Second Day Syndrome” is a unique way
to profit from Wall Street Trader’s Technical
analysis. Our analysis is based on a stock’s
price momentum and volume. Certain stocks
will forge ahead after they give a buy signal.
Other companies will have a strong up day
generating a recommendation and then back
off. Watch for these companies! When they
eventually penetrate the buy price (usually
on the “Second Day” after being recommended,)
they will typically produce a strong up move.
This greatly lessens your chances of getting
“stopped – out” of this trade.
|
|
|
Ten
Most Recent Reports
|
| |
Posted:Dec 27, 2002
NEUROCRINE BIOSCIENCES (NBIX-Nasdaq)
|
Posted:Dec 26, 2002
NEW CENTURY FINANCIAL CP (NCEN-Nasdaq)
|
Posted:Dec 24, 2002
ROYAL GOLD INC (RGLD-Nasdaq)
|
Posted:Dec 23, 2002
DANAHER CORP (DHR-NYSE)
|
Posted:Dec 20, 2002
APOLLO GROUP INC (APOL-Nasdaq)
|
Posted:Dec 19, 2002
SYMANTEC CORP (SYMC-Nasdaq)
|
Posted:Dec 18, 2002
AVID TECHNOLOGY INC (AVID-Nasdaq)
|
Posted:Dec 17, 2002
JP MORGAN CHASE (JPM-NYSE)
|
Posted:Dec 16, 2002
ANGLOGOLD LTD (AU-NYSE)
|
Posted:Dec 13, 2002
NEWFIELD EXPLORATION (NFX-NYSE)
|
View All Archives
|
|
Disclaimer
|
DISCLAIMER:
This report is not intended as an offering
or a solicitation of an offer to buy or
sell the securities and futures mentioned.
While all information is derived from
sources we deem reliable, we do not represent
that it is accurate or complete. Such
information and the opinions expressed
are subject to change without notice.
WALL STREET TRADER'S COLUMN™, its officers,
stockholders, and employees and their
families may have a long or short position
in or may at any given time purchase or
sell the securities or options relating
thereto.
|
|
|
|
