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Strategies & Market Trends : Chart Formations
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To: belker who wrote (97)10/22/1998 10:53:00 PM
From: sean sanders  Read Replies (3) of 967
 
Bob,

KLAC (one of the ones you pointed out) - Looks like we have a d bottom with a small asc tri at the top of the up leg. I mean I'd say today we have a break through of the neck-line, but it's all the other investors that need to see that (and of course they may not). If it moves up I'd say it would be good for 3-4 points, lets watch this one and see what it does.

Also a 'strange' phenomenom I'd like to point out is ... I've also noticed on a few charts where the stock forms most of the dbl bottom except for the last leg (say it only has had 1-3 days into the last leg up) If it looks like a strong dbl bottom (meaning there isn't much of a difference in height between each leg) it seems like perhaps one could play a dbl bottom even if it only started to form the last leg (meaning play it from the start of the last leg up to the resistance line ... and maybe even higher). Maybe a chart would be useful. I'll see if I can make one up to illustrate (I'll probably get it out tomorrow).

talk later,

Sean
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