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Strategies & Market Trends : The picks
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To: giddy guru who wrote (4813)2/12/1997 2:48:00 PM
From: Trader X   of 6124
 
/gg/ re IOM chart.........

I don't THINK so. I'm having a tough time interpretting the IOM chart.

if indeed it is an inverted cup/handle, then 10 is a much more likely scenario than 15. I can't get excited about IOM untill I see some kind of uptrend happening.

and right now, it aint happening.
Go ahead, pick a bottom, any bottom. be my guest.

To get the 15 answer, I simply drew a trendline. Going back 2 years,
and drawing a line along the pre-breakout tops out to the post-breakout bottoms... 15 becomes the support at that line, at this approx. time.

there ya have it. good old fashioned support.

KH.
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