Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: HeyRainier who wrote (13)	5/22/1997 7:39:00 PM
From: Mike Kehler	of 257

Rainier/Brian, I too am pretty darn happy about today's action on SPTR... I got in at 17 1/4 this morning. Not sure when I will exit, will be watching the chart for any clues. The chart was definately right on the money on this time, let's hope this trend continues! Also, if I understand it correctly, the odds are already in favor of an upside breakout once this pattern forms. If we see such a pattern again I might try putting one leg in before the breakout, but am not sure the [relatively small] gain would justify the additional risk. I think I have the same TA book - 6th edition or something, don't have it with me now - definately a very worthwhile purchase. I do not have/use any software to scan for developing patterns [yet], but will definately post any others that I find. When you're looking at SEG, you might find it interesting to compare their chart to others in the industry (primarily WDC and QNTM). Mike

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