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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Michael Watkins who wrote (48380)3/29/2004 12:11:35 PM
From: Compadre  Read Replies (1) of 52237
 
Michael,
Thanks for the chart. That's the drawing that I wanted to see. It matches mine, so I was fairly accurate after all.
About long term trend lines. My opinion is that is a good percentage of people watch a particular trend line, they are likely to influence it on way or the other. Take the one you have drawn, you will see a hesitation right at the trendline that lasted from October to December of last year. And if you draw the monthly chart and draw the same trend line on it, the Ndx stop right at the trend line.

So I think it does matter, weather we as individual players think it is valid or not. As long as there is a good number of people watching it, there will be an effect on the market. And a good number may just be as little as 5%-10% of the traders.
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