Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Thomas C (Hijacked) who wrote (32640)	10/28/1998 8:04:00 PM
From: bearshark	Read Replies (2) of 94695

TomC: Thanks for posting the chart. I am happy to see someone using Edwards and Magee. The problem I have with the chart is primarily the volume. On the left shoulder the rise in volume should have been on the ascent and lower volume on the decline. In the DELL chart, the volume climaxed at the bottom of the recession. On the head, there is a little rise in volume as there should be but it is rather low. Going into the recession between the head and right shoulder, there should be a decrease in volume. However, volume increases especially at the bottom of the recession. Additionally, that spike looks out of place in the formation. E&M says "Note that each and every item cited . . . is essential to a valid Head-and Shoulders." One caveat. In many formations, people will play an incorrect formation and actually make it work. You have the right book to work with--it is the classic. 207.95.154.130

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