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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Don Pueblo who wrote (282)	3/15/2001 12:18:20 AM
From: Jenna	Read Replies (1) of 589

MURPHY.. Yes, but try to look at page 127 in that book then connect the low points you get a 'connect the dots' game that comes out like a saucer, the inverse H&S like you said was too obvious and I don't use it much. Its interesting how we attempt to read the future stock action via chart patterns when in actuality its the reality that carves out the pattern no matter what name we give the pattern. Chart patterns are precarious lately. We will call it for lack of a better term: *The Crystal Ball Trading Strategy,* which of course will not lead anywhere. Simply all the patterns that should have broken out, or bottomed according to daily charts have NOT broken out in the direction we expected. I wonder if it gives one the illusion they have more control in an uncontrollable situation. If Fed doesn't intervene.. the upcoming pattern formation will be all too obvious.

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