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Strategies & Market Trends : DAYTRADING Fundamentals
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To: booters who wrote (9090)6/23/2000 9:11:00 AM
From: Redmond Quain  Read Replies (1) of 18137
 
Each days action in a stock like MSFT has several different
stories seen in different time frames as Trader Allan has pointed out.

One seen in the 15 min. bar time frame with the use of candlesticks (as shown in Trader Allans charts) is how on Thurs. the previous day's High was a challenge that failed on the 200pm bar after a first attempt on the 1000am bar. This 200pm try was the third try that day perhaps like the third try to surface by the drowning man. Not to say that MSFT is about to drown (last observation added on my lawyer's advice!) only that it did in a 15 min time frame.

Also, along the line of Boot's analysis, an ominous sign perhaps was the failure early in the day to hold at the 5/8 level (even on a candle body basis) the afternoon swing
of the day before.

BTW, I would like to have sent as an attachment the 15 min chart discussed. I tried going to upper left of screen (after hitting response): file--send page-- but then end up with the requirement to give an email address?

Redmond
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