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Strategies & Market Trends : Chart Formations
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To: Chris who wrote (16)9/29/1997 11:22:00 AM
From: sean sanders   of 967
 
Chris,

No need to be sorry about referencing past charts; they were and are a great learning experience. As you hinted at, some people's double bottoms might be someone else's triangles(EMC), and it always helps in the learning process to get more than one opinion; because sometimes it could be both.

Now to get back to commenting on all the great chart examples you gave, thank you by the way for putting the time in to referencing those for all of us. I especially enjoyed looking at that fine example of a head and shoulders formation that RACE displayed.

CYRX as we talked about on the stock attack thread a while back has been doing a symmetrical triangle for a long long time, generally one is supposed to look at the period preceeding the start of the symmetrical triangle and look to see what direction the stock was headed in to determine the more 'likely' outcome of the direction upon completion of the triangle. As you are well aware of the investors of CYRX didn't have the patience to wait for the completion.

CKE - Weather it is a flag or pennant; looks like we may have some action once the pattern is compleat.

TLAB - You don't see many of those triple bottoms; I did remember reading something just recently that they tend to have more 'validity' than just a double bottom... I'll have to find what I read so I could reference that.

Sean Sanders
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