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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: Rashid Garuba who wrote (25765)11/14/2001 4:08:53 AM
From: NW_Trader  Read Replies (2) of 59879
 
Hi Rashid,

WEBX - thanks for that SSSKTTH (Sudden Swift Spiritual Kick To The Head). Good example of "they never ring a bell to tell you to buy (or sell)."

I actually first put it on a watch list last May as it went over 10, but it was at 20 before I knew it. Then it corrected to 15 and I said "nice C&H developing", but I didn't buy it. All summer I glanced at it as it worked on that consolidating descending triangle and I said this pattern ought to be traded - but I didn't. In September when it broke the long term down TL, I said "here we go" but I didn't go with it. Since then it's established a very nice channel trading pattern, and is almost at the bottom of the channel getting ready to turn up - or could it be about to break down? On my WEBX chart I've drawn so many TL, S&R lines, retrace, extension and pivot points that I'm having trouble finding the candles. <VBG> Although my very short term indicators suggest another day down and I think that support is around 30, but it could reverse up tomorrow based on the bottom channel line. I'll put it on a 30 min chart tomorrow and study for trading. It has nice daily range. Thanks.

Peace and Justice --- Patrick
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