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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Jerry Olson who wrote (18987)3/21/1999 7:07:00 PM
From: nicewatch  Read Replies (1) of 44573
 
Hi OJ, You're welcome.... good to hear from you. on CMGI???..on my P&F charts, this stock is forming a triangle...it has not signaled either bullish or bearish yet... I agree with you on the triangle and the lack of a signal yet... I just added this chart which should clear things up a bit... that 1st CMGI chart must look silly with all those lines. <ggg> geocities.com Those two forks have been the more recent dominant ones, imo. The tines of both are at around 167-168 or so for tomorrow. Beyond that, the only other fork worth mentioning here... is the giant sideways one seen on the 1st chart. To see it -simply, without forking- extend a horizontal line from the high of 1/12/99. That tine is at about 154 or so for tomorrow.... which is the lowest the stock could go before I turn negative, and this triangle pattern is broken... BWDIK. As for the SPX, etc. the charts are more self-explanatory... i think. <g> Put simply, we either made an important pivot on friday, imo... or the market will work its way higher into the first week or two of april and make a pivot high there. This scenario makes sense to me, therefore it's probably wrong <ggg>.... and if i had a preference.... it would be the first week or two of april for a turn.... again... this is just my guess... so that, and about $.75 should get me a cup of coffee!! <ggg> Talk to you later, take care Regards, Frank
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