The 56 Point TA; Charts With an Attitude Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Knitwit who wrote (24813)	12/31/1998 2:55:00 AM
From: Doug R	Read Replies (1) of 79449

Knitwit, Real accumulation normally occurs over a longer period than just a few days. Short term movement can be extrapolated from bursts of large volume and price activity however. In those terms, today's activity in HNV (down on enormous volume) does not really suggest sharp upward movement now for the next few weeks IMO. I'm actually more interested in the longer term activity in HNV. The chart, going back to 1987 has now set up a formation that I have "discovered" (I call it a MIMBO) which gives it a significantly high probability of returning to its all-time high. The dynamic involved requires more patience than a daytrader has since it involves a 3 to 8 or 9 month time frame to get there. Of course there are considerations along the way such as the time value of your money that might dictate exit before the ultimate target is reached (SPYG was a good example of that when it got over 30 although on occasion you'll get a CMNT which just runs over the taget) but the underlying strategy is sound IMO. Doug R

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next