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

To: sean sanders who wrote (219)	7/19/1999 11:03:00 PM
From: Casaubon	Respond to of 967

I thought LAF was going to be some kind of bullish wedge and I almost was going to play it today (going long) but that strategy might now be a good idea; seems better to wait until the breakout. I think you were on the right track with LAF. To me it looks like a bullish flag, and it's sitting right on the base of the resistance line. Flags usually occur about half way through a move, so we should expect at least five points and at most ten points ( which would put the stock right back at the 1998 top: ie strong resistance) Also, looking back at WMAR, I see a pennant forming which "should" break in the direction of the trend (ie down). And, now that I look again, the stock put in a rounding top or dumpling top. A gap down would confirm this call.