DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Eric P who wrote (5524)	11/21/1999 12:09:00 AM
From: OZ	Read Replies (1) of 18137

Eric, You might also want to mention that the setup is ALSO called a Trader Vic 2B/TOP and 2B/BOTTOM. It is mentioned in his book Trader Vic- Methods of a Wall Street Master. It was published (1991) a full 4 years before Street Smarts. I like to call the tops Turtle Soups and the bottoms 2B/Bottoms. Also, it is important to mention that the 2 tops or bottoms can be months or even years apart and the bigger the chasm between the lows and the highs, the more powerful the play. This is because the selling (buying) pressure will be even stronger since the bagholders are REALLY eager to get their money back since they were totally in the hole and now have a chance to get their money back. Also, the T/Soup Plus One is a safer play in my opinion. Same play except the breakdown occurs the next day AFTER the high (Low). I made up a new name for a failed "Cup and Handle" Breakout. It is called a "Cup of Soup". You heard it hear first. Regards, OZ

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