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Strategies & Market Trends : MDA - Market Direction Analysis

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To: bobby beara who wrote (70557)	2/27/2001 4:39:28 AM
From: HairBall	Read Replies (1) of 99985

bobby beara: Looking at the chart you linked, once again I am seeing a revision of the original channel I first posted on this thread almost two years ago. Every Tom, Dick and Harry now claims to have discovered it, but almost no one is plotting correctly. In spite of what some seem to think, plotting trend lines and patterns correctly is very important. The lower support line in that graphic is the adjusted 90 support line, adjusted to accommodate the 98 low. However, it is not the decade long support line for the channel. That line has already been penetrated. It did not take eight years for the channel to form. I keep reading where folks are still talking about a Dow Diamond pattern, what's up with that...it came to its apex four months ago. It proved to be the Rhinestone pattern...LOL Everybody is a stock market guru, now days...<g> Regards, LG

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