The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: ivan solotaroff who wrote (8980)	12/8/1997 12:08:00 PM
From: Esteban	Read Replies (1) of 79315

Ivan, I definetly would not have sold on the morning gap for ACTM on 11/11. But I mentioned the fact that it may have whipsawed the method there because I thought it was a likely possibility that many would have sold. My feeling about opening gaps is that there is usually a rebound in the first 45 minutes of trading, and that's when I make my decision, based on the extent of the rebound. In this case the rebound was very strong, but I would have sold at 14 after 10:15 if the price failed again. More thoughts on ACTM because it's having a strong day today that will probably make Friday the higher low for the start of phase II. This is the third higher low since the signal day. The others were followed by multi day rallys, but we now have a definte downtrend to contend with, so I'm hesitant about this one. Today's sharp move puts ACTM right to the downtrend line. What do you think. Esteban

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