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Strategies & Market Trends : Chart Formations
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To: Cola Can who wrote (242)9/17/1999 10:05:00 AM
From: sean sanders  Read Replies (2) of 967
 
CC,

I would have to tend to agree with you about IFLO forming a desc. tri. Although I would take these things into consideration:
1. It is a small stock so sometimes smaller stocks can behave slightly more 'abnormal' (just in my observation).
2. You may want to place a sell short stop just under the trendline to catch a move; or sell in now and then buy out if the position reverses too much on you.

Take a look at PQT on 7/16 I was watching that one and figured it broke out of a desc tri on that date. Sometimes it seems like it's easier to pick them but not so easy to trade them.

good luck

Sean
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