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Strategies & Market Trends : Charts With An Attitude; Trading In & Out
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To: James Strauss who wrote (3732)11/14/1997 1:02:00 PM
From: Esteban  Read Replies (1) of 4701
 
Thanks for your analysis of BOSCF, Jim. Because of the fairly low volume during the decline, especially in light of the market conditions I haven't been too worried about BOSCF. But yesterday's destruction of the double bottom formation on high volume truly concerned me. It did close at the high end of a very large range however, which gave me hope that we were seeing climax selling. Today's move is a great follow through to yesterday's close, but the low volume leaves me suspicious. I'd be more comfortable with modest follow through on higher volume for the long term reversal prospects out of the double bottom.

Any further thoughts on the probability of low volume reversal moves sustaining the reversal or retesting, in a general sense?

E
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