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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (1352)	6/23/1999 7:44:00 PM
From: TraderAlan	Respond to of 18137

KM, I've done some thinking about what the Classic really is. It was Gary Smith's creation at thestreet.com and he published a TC2000 formula of it I wrote for him in one of his columns. It's basically a cup and handle play. The "handle" after a double top failure is real important as it absorbs the last sellers. Smith insists on a long congestion just below to the old high before the breakout. I loosened up some of his rules as the market has other ways of shaking out supply (like gaps through old highs). Alan.