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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (139926)	1/4/2007 3:02:10 PM
From: Henry J Costanzo	Read Replies (1) of 209892

<<... you have more proficiency reading P&F charts than I...>> A highly dubious statement, BC..vbg.....I dabbled in P&F years ago...before all the "refinements" that have since been added.. (guess I've dabbled in just about everything at this point, BC..even Japanese candles!!..LOL) Rarely look at P&F ..and have no idea how StockCharts goes about deriving those targets. Those charts you posted do not show the decided dip to new lows in the past couple of days...which I think should point to lower...not higher...targets. I rely on USO charts...but they have a very short history...and INO futures charts (not a continuous contract construction...which I have always questioned). Heres the non-bullish chart of the nearby Feb contract....no support until area you mentioned..

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