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Strategies & Market Trends : Classic TA Workplace

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To: Galirayo who wrote (140600)	1/26/2007 5:32:46 AM
From: 2MAR$	Read Replies (2) of 209892

ATI ...after that beautiful runnup with everyone thinking "its a breakout" , i was shorting the am pops at alt: investorshub.com Focussed on shorting both the 1rst & 2nd d-top put in on the am gap , that second touch was exactly at the same pivot high @ $101.50 . These pivots almost always clearly announce themselves as you'll see them often do when trading up into resistance & at the overbought doubletop on the daily . Someone as there hand on the sell button at these levels , probably all prearranged before . *Almost the same conditions as for IBM that sold off on its eps as the "boyz" saw the chance to take profs at a traditional D-top high on the weekly @ $100 . Combine the doubletop with the overbought and you have a recipie for a sell-off more often than not , especially after such a runnup. ATI was a "perfection" OB/d-top setup see the exact pivot high put in at $101.50 area 3min, and the d-top on the daily below in the OB :

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