EGGS
There are several stocks out there with bowl patterns and a spike and then a handle type formation. The Internet Watch List I posted had several that all had the same formation, and EGGS was on that. the truth of the matter is that I don't know. The classical cup-and-handle requires a volume formation/pattern that is not evident in any of the internets. however, I did run a series of neural nets against the last 6 months data on all of them and according to the answers I got from it - which are admittedly some what interpretive on my part, I beliweve they are all poised for another runup.
The other problem is the spike which occurred at the end of the first bowl. That tends to hose up the net the same way it does my head. That, coupled with the fact that several stocks had the same pattern and did not follow through - and not for sector, market or other ascribable reasons, makes me hesitate. The best I can do is put them on a watch list, set the close as a gap alert threshold on medved's quote tracker, and watch to see what goes on by 10:00 or so.
As the lists I posted show, there is a heck of a lot of recent jumps in on balance volume out there for the planet being long on these stocks. At some point there will be a correction, and traders with 100 shares and hedge funds with 100,000 shares will start bailing and shortable stocks will be hard to come by after about the fourth to fifth day into it.
I have been doing a lot of work creating muytliple signals to move mutual fund money to safer havens when that looks to happen, and I will post here and support chats on the website when I see something disturbing coming. That Ike didn't see the correction yet isn't telling, as January for the last three years has been non-standard in terms of when things that usually happen actually happen.
It is sort of like the Joe Kennedy-shoe shine kid story - the guy installing my other phone line a couple of weeks ago started telling me about what stocks he was in after seeing my compters displaying the various TA and stock stuff. It's not time to short the market yet, but my assessment is that this one will be telling for certain sectors and stocks. Where the big money is will show itself at that time, and the ones that correct the least, or that correct the most on the least volume, will be the ones to accumulate.
Sorry lisa - long diatribe for your simple question. one I didn't have an answer for anyway.
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