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Strategies & Market Trends : Chart Formations

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To: sean sanders who wrote (808)	6/17/2005 3:52:37 PM
From: Casaubon	Read Replies (1) of 967

I thought VRTX was going to flag after the upside breakout, but it didn't. Instead, it put in a more bullish consolidation (the ascending trinagle). Still more upside, IMO. That's why you've got to know the general trend of the current play (bull or bear or range bound). Then, have some tactics to take advantage of the current play. The general tactic on this is to buy pullbacks or sell CC's. Keep in mind, options have an inherent disadvantage for the retail consumer. They horrible spread on the bid/ask, they have liquidity issues, and on top of all that you've always got time decay working against you. It's a stacked deck. So, sell options, don't buy them! There are exceptions, but not many. Good Luck!

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