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Strategies & Market Trends : NetCurrents NTCS
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To: Christopher who wrote (4383)11/12/2000 10:46:21 PM
From: Teresa Lo  Read Replies (1) of 8925
 
"...If a stock breaks out of a chart pattern and its Relative Strength Line compared to S&P 500 also breaks out of a chart pattern at the same time. Would you buy the stock the next day after the breakout? How would you set up the buy in such a case? Would you buy on retracement after the breakout?"

Anytime there is a breakout, I never buy it. I always look for failure first. I also don't look at relative strength vs. S&P, since that's a big picture item.

I would only buy it on a retracement, when it shows me that old resistance is new support. I would use a buy stop too, rather than just go in there a buy. The market has to prove my scenario correct and take me in with it.

Teresa
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