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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (72516)	5/1/2003 2:55:30 PM
From: bcrafty	Read Replies (1) of 209892

Freep, I agree with your wedge observation on GE. JoaT made the same observation the same night jj posted his wedge chart. It really was pretty far into it, IMO. Allan made the same comment to me last fall when discussing another pattern on a gold index. With today's candle calling for a new LT to be drawn we'll heave to see what pattern, if any, we can come up with for this one. As an aside, sometimes pattern and trendline drawing is made difficult by the candles showing a long spike which, although it is there, really shouldn't be there. For example, today's GE candle will show a low spike to 27.50 but it only hit that price for a second (don't ask me how these things happen; I'd like to know myself) and the realistic low for ther day was 28.60 or so, which is the lowest you or I could have bought it at if we were on our toes.

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