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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: shasta23 who wrote (16688)5/10/1998 9:52:00 PM
From: Doug R  Read Replies (2) of 79362
 
Stefan,

CLYS violated the IL. When RADAF did that at 19 I saw that it was going to the ACT under 13. It went to 12 7/8. When RECY did that at 7 3/8 I saw it dropping to the ACT under 5. There's other examples too but in each case people thought I must be crazy to suggest such a drop. ABTX is another. PRTL was a tough one but it dropped even harder than I thought. IL violation is a serious offense. The weakness may or may not be prolonged. The bottom of IL reaction is most often a buying opportunity.

Doug R
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