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

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To: Paul Shread who wrote (26761)	8/3/2000 3:12:13 PM
From: Robert Graham	Read Replies (1) of 42787

Breakout from symmetric triangle have a significant chance of price reversal. At least intraday, I have made more money taking the anticipate price reversal than the initial breakout. And initial breakouts from the triangle are also prone to fakeouts which can be avoided in this way. The price reversal is usually much more clean cut. So it sounds that the same thing happened with CMRC where price did reverse. Now checking the daily chart on this stock, I see not only did this happen, it also happened right about where I would anticipate the price reversal to happen. Initial breakout yielded a move of about 15 points. If you entered early on a bull flag that developed inside the triangle, then we can call it about 25 points. This is the only way I would enter a breakout, particularly of a symmetric triangle. Now the pullback after a small top was in amounted to 30 points. This is just a quick look at a chart. I am not saying these comparative gains could be realized. Just offering this as an observation of what I have seen elsewhere during my day trading adventures. :-) Bob Graham

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