Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bobby beara who wrote (19993)	6/8/1998 1:38:00 PM
From: dennis michael patterson	Read Replies (2) of 94695

There was an article a while back in IBD about breakouts. I will dig it out, but I recall something to the effect that what is needed to confirm the uptrend is a strong move up within 3 trading days of the initial move. Why 3? I cannot recall, but I will get the piece out. I think a lot of people are like me: they just don't believe this market will go higher. And what about a re-test of the low? THAT, it seems to me, would be very good. I subscribe to a cycles letter (Chuck Carpino) and he thinks that we'll drift down into mid-month and THEN resume the uptrend. That's consistent with the re-test theory. As I said to Bill, I was amazed to see all the Mavens on AOL claim the correction ended last Weds or thursday.

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