Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 487.79

0.0%

Dec 26 3:59 PM EST

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To: Nancy who wrote (16873)	5/6/2002 4:28:48 PM
From: Susan G	Read Replies (1) of 26752

After today I realized I hate triangles, they drove me crazy all day long and required enormous patience <g> Now I know why Teresa Lo's room won't even trade them until they break out either way. Enough to make you lose your mind! What I've noticed is they usually fake out in the opposite direction they will eventually go, causing shorts to cover or longs to buy, and THEN after everyone's covered on the "breakout", down they go trapping both sides. False traps to the downside that snare traders too, there was one of those today in the nas triangle. So that short panic drives it right back up to the top of the triangle and it's caught back in the range again. Market internals were the hint it would eventually crack today, they were deteriorating all day long. Next time I see them on all indexes, I'm taking the day off until the alerts go off!

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