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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Robert Graham who wrote (1967)7/27/1997 3:33:00 AM
From: HeyRainier   of 120523
 
Bob, thank you very much for your detailed explanation of the ascending triangle as it pertains to CRNR. I have also been watching this one with caution, for some overlapping reasons that you mentioned in your post(length of time of formation, overall downtrend, and volume). I agree that the next day or two should tell where this one is headed.

Also, I found an interesting chart on Circus Circus(CIR) that looks very much like the short-term formation of the ascending triangle on CRNR. The resemblance is very interesting, but what CIR had going for it were buyout rumors by Hilton(spread by BusinessWeek). Facetiously speaking, chances are improbable that a buyout rumor will also circulate for CRNR that will trigger a similar breakout, but as you said, the next day or two should tell. Thanks again for your thorough explanation.

Regards,

Rainier Trinidad
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