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Strategies & Market Trends : Chart Formations
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To: belker who wrote (155)2/24/1999 10:14:00 PM
From: sean sanders  Read Replies (2) of 967
 
Bob,

MNMD - (dbl top) I'm looking for it to go down to the 200 day smov (seeing how that works compared to the emov). That is about the MM anyway to the 200 day. I was thinking 65 for the MM; the 200 day is at 68. So I would expect it to stop there (68). We might have a flag in the next couple of days, but who knows.

Also I picked out a few stocks for my watch list; most arn't that great. I'm seeing some decent dbl tops though. Some of the ones that go down slowly arn't bad plays. They may take a month to complete, but ~%35 on a slow moving stock is still ~%35. I'm looking at MICCF as my example here. I could be bold and say that it broke through the neckline there today. I'm looking at MNMD as my first choice for db tops else I might be inclined to play MICCF. I have a feeling that MNMD will move fairly quickly though and one still may have a chance to play MICCF ... say a flag forms.

One other thing I don't really feel that great at playing H&S I mean maybe it's me but most of the ones I pick don't do that well making the downward moves that I expect ... ie the stock moves up instead of going down or only goes down like 1/4 of the MM. I'm seeing a large number of H&S patterns in my watch list but I just am not excited about them for the above reasons. But I still want to watch them (T.A.)
What do you think about those?

Sean

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