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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	3/25/2005 2:44:24 PM
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IBM.......we've been talking about....our Freepie short.....Also, third in the pecking order of DOW stocks, and a small %age move could translate into a large number of DOW points... A laggard...........Jan high did not take out early 2004 high.....and has now led the DOW in taking out the Jan low. Two acid tests coming up pronto......Overhead DT line from Jan high, and overhead falling 5od MA. If it can't pass those, TA pattern counting to 83/84ish comes into play, filling the Oct gap in the process (86..15).... Backtesting bottom of bearish triangle.......Good spot IMHO to join Freep's putting...with close stop possible.... home.twcny.rr.com

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