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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Gersh Avery who wrote (24599)	6/27/2000 3:22:00 PM
From: Robert Graham	Read Replies (2) of 42787

Looks like continued congestion style trading in the 3-min time frame. Also looks like price is readying for a test of top at 1478 on the SPOO. Right now there is an established congestion range between 1472.75 and 1478.00 on the SPOO. Update 15:26 PM EST Price has moved past its test of top and now looks to be continuing up. It is now at an apex of a larger triangle. The Stoch in the 3-min time frame is topping out along with the one on the 1-min chart. I am anticipating a small pullback that may provide entry for a trade to the upside. But this is right nearby a test of top. So parameters need to be put in place here. A short stop order at 1477 and a long at 1478.75. I am keenly aware of another bear flag on the 1-min that coincides with this test of top on the 3-min chart. Update 15:33 PM EST I am in a short trade now and moving long stop down to 1478.50. I want to be clear that I am not trading for real today as mentioned in an earlier post. So this is a paper trade. Bob Graham

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