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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (7344)	10/11/2000 4:09:33 PM
From: Dealer	Read Replies (1) of 65232

INTC--STOLEN FROM THE CLOWN KILLER THREAD: Looks like a bull might have entered the Bear Corral: Using "clown" methods that the honorable Lucretius bans as heresy. All clown haters should now cover their eyes and proceed to the next post. <g> 2 patterns projected to precisely 35 on Intel. The first was pattern, looking at the daily chart going back to the end of March, was an upward pointing channel with the 3/24 high and 9/4 high defining the top channel line, and the 5/10 low and 9/18 low defining the bottom channel line. When you measure the vertical distance of that channel, it measures 21 points. On 9/22, intc broke the lower channel line, which was located @ 56 that day. 56-21 = 35. The second pattern was a megaphone (series of higher highs & lower lows) beginning at the end of June. from the 9/4 high of 75 to the 9/18 low of 55.5 established the last two points of the megaphone in the direction of the eventual break. You take the difference, 19.5, and subtract it from the break point on the megaphone, broken on 9/22. The lower megaphone line that day was @ 54.5. And there you have a second target of 35.

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