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Strategies & Market Trends : Charts for Quick CASH $$$

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To: Galirayo who wrote (5419)	12/17/1997 12:04:00 AM
From: ftth	Read Replies (1) of 9262

Hi Ray, have you found that A.T.'s and hammers are less predictive (or maybe reliable is a better word) in this market environment than they were, say, in May-August (especially AT's because they signify upward breakouts, which--if they do materialize--seem to fizzle out after a day or two lately)? I know I have, but I just wanted to make sure I wasn't making an erroneous conclusion. Also, the sheer number of AT's seems to be driven by a (fairly) market-wide pattern of multiple tests (and subsequent failures) of upward resistance levels (have to specify "upward" because it's also a short support level), followed by increasingly shallower pullbacks. Hammers off the lows of a pullback seem to work about as reliably as in an up market, but the upside potential from that point isn't as great as in an up market. Are you day trading these patterns currently? How's it been working out for you if you have??? dh

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