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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: sean sanders who wrote (208)	7/17/1999
From: Casaubon	Read Replies (2) \| Respond to of 967

So your're thinking we will have a nice rise in CENT in the next couple of days? I'm not attaching a timeframe. I'm just saying it looks like this stock found a support level. Also, I believe the shooting star, which appeared seven trading days ago, will probably contain any upward moves, thus defining the trading range from $8.50 to $11.00. Since, IMO, the base has been defined all we need now is a spring to trigger a move to the top of the trading band. My experience is that springs take up to a couple of weeks to reach thier objectives. Even if the trend does eventually resolve to the downside, It looks like this stock will put in a narrow trading band with the constraints I've mentioned. IMO, get Nisons first book! I am slightly concerned about the fact that there are a ton of charts reaching new highs and I think next week is when last year the DOW dropped alot. One of my protective measures may be to always make sure I have a short or put in my mist; thinking I will give 1/3 of my portfolio over to the short side. Again, I'm very fearful of the market until it has some kind of y2K purge. So, I'm using this time to try and spot some useful things to trade on in the future. I'm not using money unless I feel very confident. I too, would like to pick up some insurance puts. I think SCH may have just set up a bearish flag (from mid june to mid july), and is ready to break to the downside. As you can see the volume dried up during this period and the parallelogram slopes up against the prevailing downtrend (as defined from the april top). The flag has lasted roughly 4 weeks putting it at the long end of bearish flag timeframes (too long implies less meaning). I believe we are sitting on the lower trendline currently. Breaking of that trendline on higher volume would imply a resumption of the downtrend (John Murphy)