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Microcap & Penny Stocks : Cade Industries
CADE 42.39-1.0%Jan 30 3:59 PM EST
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To: Ditchdigger who wrote (3297)10/15/1998 5:43:00 PM
From: MechanicalMethod  Read Replies (2) of 3563
 
DD,

We put in a higher bottom, commonly called a 123 bottom.

1 L 8/31/98 1.94
2 H 9/30/98 3.00
3 L 10/9/98 2.09

A break above 3 confirms the pattern and sets up a Ross Hook. The Hook is a really profitable series of home runs with clearly defined parameters. A swing high that breaks above the number 2 point becomes the number 4 point and the first Hook. Each subsequent swing high creates another RH. As long as the pattern continues, there's profit in buying dips since each higher high brings in more of those who like to buy breakouts.

This is a long term holding for me. Two year target is 20. Five will get us IBD coverage and from there it should be synchy.

Osci
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