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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: Woodchuck who wrote (213)9/15/1997 4:20:00 PM
From: HeyRainier   of 257
 
Woodchuck, that's great that you're making progress in your ability to recognize the flags that we've shown you. I also hope that you waited for some return input before considering putting some money into SHVA. True, it was a flag, but last week's trading did not "feel right." I was planning on pyramiding up, but the stock's failure to move up as expected told me that perhaps things might turn out poorly. I started stripping down my positions, and sold 50% of my SHVA position at 14 1/2 last week, and sold the rest at 14 3/8 early this morning. Then at the end of the day the selling accelerated, and the stock closed poorly. The networking stocks have been getting pummeled, with ASND being the standout loser. The markets have a tendency to move in lockstep, regardless of individual company fundamentals. I hope that you did not add any SHVA to your accounts.

Regards,

Rainier
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