Autumn
I was wondering if you could give me a bit more info on your spike and ledge patterns. I found some stocks which would seem to fit your description
CXP: a failed pattern (ie it went up)? [July time frame]
TNO more or less completed patterns
PRH
HPC
LNN
ANDW currently devolping patterns?
MST
ZNT
If you don't have these charts maybe you could suggest some samples - I have or can get most any stock
Maybe you could tell me a bit about the pattern - ie how high a spike, how long is the ledge, and can you estimate how low it will go. Also, is there a reverse pattern for the upside?
RE John Murphy;s newest book - "the Visual Investor"
I have the book and frankly I thought it was a slapdash effort to profit from the current investment exhuberence (I am trying to be nice here). However, this is now the second or third post to refer to this book favorably so I guess I will give it another read. Nevertheless, a great deal of the material is quite similar to Elder's book. As you can tell, I hold Elder in the highest esteem, surpassed only by Trader Vic, whose chart patterns I use all the time now. And until the recent turmoil when I evidently lost my senses, I was doing pretty well with them.
Well, glad that you found the thoughts on shorting useful - I think you might enjoy Elder's book. That is, you might find it useful.
Bob |
