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Technology Stocks : Stock Swap
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To: Andrew Vance who wrote (16172)2/5/1999 1:19:00 AM
From: Trader X  Read Replies (1) of 17305
 
On waiting for the upticks.

I'd like to add a little visual example of how I find the steady up
ticks on stocks. I like to watch intraday day charts, preferably 5-15
minute intervals for a pattern similar to this:


^
_________________________^_____ resistence line
x x x x
x x x x x x
x x x x (Z)
x x x x
x x X
xx

either just before (Z), or as soon as the stock pierces the resistence line (^)
I consider buy points. This just visually defines the upticks you were talking about
on stocks that have retraced past gains, or were otherwise consolidating for a
new upmove. ESST showed several of these patterns on the way from $3 to $8 recently.
Very common pattern, representing a psychology of accumalation.

tx

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