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Strategies & Market Trends : Three Amigos Stock Thread
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To: Ken W who wrote (23929)2/22/2001 7:49:04 AM
From: Ditchdigger  Read Replies (1) of 29382
 
Hi Ken, that's strange, I do not see the green "low pole reversal" alert on my screen..I do see a "double bottom breakdown" alert. Basically, a low pole formation (according to T. Dorsey's book,think he has a newer addition out) " The Low Pole simply means the selling preasure that had been driving the stock down is probably over to a great degree." (bottom line, bottom fishing<g>)
"The traders best play is to wait for a pullback following the low pole and enter the stock there. Buying on the pullback will establish the entry point closer to the stop level. It also sets up the potential for a nice double top buy signal on the next reversal back up the chart"

Will attempt to show you the chart example..

25

O
O X
20 O X O
O X O X <-----Low Pole Warning
19 O O X ?
O X ?
18 O X ? <-----Best Entry Level For a Trade
O X
17 O
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