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Strategies & Market Trends : Trading From Main Street.

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To: Brandon who wrote (6)5/7/2001 11:48:33 PM
From: Brandon  Read Replies (1) of 226
 
The 2T pattern works very well on both the daily and intraday time frames. Scanning charts tonight, GE will be of interest following the outline of this pattern. Having run up very sharply on Friday, GE took the opportunity to "rest" today..forming a very narrow range bar inside Fridays bar and trading all day today in the upper 1/3 of Fridays range. The 2T pattern would suggest taking long positions in GE if it trades above $50 with a nice tight stop under $49.48. With New Yearly Highsall the rage on the DOW it will be interesting to see if it gets goosed a bit and does it. If it does, GE will be one of the leaders with out a doubt.

GE Chart: swingtrader.net

Brandon
teachmetotrade.com
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