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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?


To: ok1day who wrote (52869)8/12/1999 9:04:00 AM
From: stan s.  Read Replies (1) | Respond to of 90042
 
TFSM, on a purely TA basis it's trying to turn but one nice up day in a row does not a reversal make. It's just too early for a definitive answer. Another up day will pop it above a very short term down trend line.

I'm assuming that there's some news or rumor (big volume yesterday) that's making a quick entry attractive to you, but on a technical basis I would have waited for a little more confirmation.

Just my opinion...it looks okay...just could look a little safer in a day or two. If indeed this is the move it has good upside room.

Stan



To: ok1day who wrote (52869)8/12/1999 9:11:00 AM
From: stan s.  Respond to of 90042
 
TFSM, I think I neglected your main question. The 3 method formation is bullish if the 3 down days are encompassed within the 1st outer up day...meaning totally enveloped...not the case with TFSM.