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Strategies & Market Trends : Set the Controls For The Heart of the SUN
IQ 1.910+0.5%Dec 26 9:30 AM EST
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To: Sergio H who wrote (414)6/15/1997 3:44:00 PM
From: Doug R   of 1156
 
Sergio,

You're right it is relatively common. The overall market is about 90%
responsible as the reason so many patterns like inverted h&s, base on base,
ascending triangles etc. are showing alot of success in breaking out.

The best predictor of continued success of a breakout is heavy volume.
That's why IFCI is going so well. It broke out of a pattern I call a
mimbo. This pattern is often associated with reversals that make large
gains in a short period and is often the precursor to a cup with handle
formation. Alot of people look for c with h patterns but I wanted to
identify a way to spot the cup when it was still near the bottom. I
know a mimbo is successful at it so that's why I believe IFCI will be back
to 5 1/2 in about 6 months. A triple from where most of the thread got
in will take a total of 9 months. Not too bad.

Also, the longer a pattern develops, the greater the likely gain on the
breakout. That's why I like FONR. It has a base on base going back to
late 1991. On the second base, FONR is just completing a year long
inverted h&s. A breakout from that will add fuel to the longer term
base on base breakout. I like multiple pattern breakouts. WAXS broke out of
a 1 yr. handle of a 6 yr. c with h riding on a shorter term inverted
h & s breakout on the required heavy volume.

Is that enough for now?

Doug R
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