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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 25 4:00 PM EST

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To: HairBall who wrote (12986)	5/5/1999 11:20:00 PM
From: bobby beara	Read Replies (2) of 99985

Thanks for that link LG, however i disgree with the author here to a certain point. >>>>The classic Descending Triangle illustrates the painful rollover from bull to bear market better than any other pattern.<<<< all of these kind of patterns are congestion patterns and can break either way and the chart/volume can give some clues, however the example he gives on seek was a parabolic top with a much lower high, should have been recognized past tense as a five wave decline and by the time someone recogized that pattern it was late in the game to get short. At the time of the parabolic peek on Seek then I bought puts, however I wasn't smart enough at the time to recognize the 5 wave decline into the 20 area making a bottom. I've seen a lot of declining wedges resolve bullishly, AAPL and SEEK recently were examples of that. I think all congestion patterns produce optimal buying or shorting opportunities, but should always be managed with protective stops. bb

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