The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (33301)	1/4/2000 11:10:00 AM
From: ivan solotaroff	Read Replies (1) of 79237

OF MICE AND MIMBOS Doug, I've mentioned that I'm eyeballing oil stocks for MIMBO formations. In particular, was looking at the GW chart: tscn.com Noticed something: There appears to have been a MIM set up in 1996, and a BO in 1997, complete with Peg Line. If so (I'm also wondering if 1987-96 could be construed as the left side of the MIM and 96-97 the right, and we're still waiting for Mr. BO?), this formation was interrupted en route to all-time highs in the 11s. If you go back to 1982, you see what was probably a gap-down into the same ranges (I don't have any way of getting that data). I bring it up because this is now the third or fourth time I've seen this, and I've learned to stay away from or back out of MIMBO positions that are approaching previous gaps. It's already gotten me out of two would-have been long-term trades (and losses): AKLM and TACO. I've brought this up before, but you didn't seem to think much of it. Still, I 'umbly suggest a footnote to the already storied legend of the MIMBO. But you know me, always trying to stick my little cat-thing into everyone's pie. Ivan

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