LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: Daveyk who wrote (35364)	5/19/2000 5:21:00 PM
From: LastShadow	Read Replies (2) of 43080

The problem with the pennant that is forming on all the indices is that they aren't providing any direction. If it was an ascending triangle, we could assume good chance of an upside breakout. A descending triangle would be bearish. As it is now, its just a pennant with not enough volume for any real guesstimate. I did find it interestng though that a lot of the bigger funds were taking large positions in stocks like Ortel and Rambus, neither of which are giving any direction either - I will try to look for a dector preference this weekend on the large fund accumulations - but what the heck, they could be wrong too...

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