Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Ploni who wrote (830)	1/16/1998 10:54:00 PM
From: TATRADER	Read Replies (2) of 18691

Charles, I don't have ITWO on my data base, but in regards to SEBL, you do not have a wedge...A bearish wedge is an upward slanted symmetrical triangle in a downtrending market...The trend on SEBL presently is up...Use your +D1 vs. -D1 indicator to determine this...+D1 is greater so the trend is positive...In this stock, SEBL,you have a flag pole formation from 32.50 to 42.00...It looks to me like an ascending flag from the 42.00 area...A flag should go down, to display a pause in the move before it continues upward...When you have an ascending flag, it smacks of distribution...I would have bailed on this one today... i anticipate that it will pull back very soon to the 42.00 support area...Let me know if I was right....Regards, Mark P.S. A pennant formation also has a flag pole, but the pattern looks like a symmetrical triangle....SEBL looked more like a slanted rectangle to me than a triangle...Sometimes this one is tough to call, but both pennant and flag give same message... P.S.S. If SEBL would have been trending downward, I could have seen a bearish upward wedge....

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