WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: Bernard Ng who wrote (8754)	11/6/2000 8:17:50 AM
From: ChrisJP	Read Replies (1) of 11130

Thanks Bernard, I'm gonna have to get a refresher course on some of this stuff. Especially on how something that's descending can be bullish. I sort of look at the patterns as verrrry long flags or pennants. I guess you are calling them triangles. The trendlines on INSP's weekly chart lead me to believe that upper 20s is possible on this wave. The breakout above 24 was promising, but maybe that was its final move .... ? The chart I use shows the 5 dMA about to move above the 20 dMA -- usually a good sign if it follows through. But I also acknowledge we are approaching overbought. NEON -- same deal as INSP except not yet close to overbought. To me, the downward trendline from the weekly chart suggests mid-20s. I also picked up some MTON and OTWO, but they are a lot riskier to guess what they will do because their volume is typically under 100,000 shares. But I liked the fact they seemed to be heading up, lol. The contest --- you can tell I'm kind of reluctant to participate. Its one thing to be wrong every once in a while, but for others to see how often you're wrong .... welllll I don't know if I need that much humility right now, lol. Regards, Chris

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