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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (42020)2/5/2001 7:17:11 PM
From: Casaubon  Read Replies (1) of 42787
 
Now if one gave a reason/support as to why it is a valid BEARISH WEDGE on rising volume then that could make that analysis sufficient.

Don, the stock which I am short is currently in a rising wedge with what may be rising volume, as you say. But, what I have noticed is that the days which provide the "break up" at each stage of the wedge occur on ever diminishing volume. Also, the sentiment readings are outlandishly bullish (IMO) despite the carnage which has occurred over the past year. Sure some were safely hiding in Dow stocks or NYSE issues on the rise. But, I'm sure the majority were subjected to worse than average returns. Thus, I will count the bearish nature of the wedge pattern as distribution, despite the apparent rising volume. I closed my SPX short in URPIX though, due to end of day restriction.

Thanks for always providing even handed analysis.
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