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Strategies & Market Trends : Take the Money and Run
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To: HG who wrote (2452)6/8/2002 3:57:50 PM
From: Jorj X Mckie  Read Replies (2) of 17639
 
what I am looking at is that CHIC had a nice rally and created a high pole. It then did a normal pullback and then the next rally only went 1 box above the high pole before reversing. That tells me that the buyers have petered out. Then the next pullback broke double bottom support. That tells me that sellers are now in control of the stock. I wouldn't be a buyer of CHIC until it hit 17.50 (assuming that it stops there).
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