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

To: Casaubon who wrote (277)	9/20/1999 12:36:00 PM
From: sean sanders	Respond to of 967

Casaubon, They do look like bull flags on the weekly chart. Although the monthly chart even looks close to a dbl top. SO let's see: Monthly:dbl top Weekly :Bull flag Daily :desc. tri Will be interesting to see what occures. Sean

To: Casaubon who wrote (277)	9/22/1999 11:00:00 AM
From: sean sanders	Respond to of 967

Casaubon, T (AT&T) This is another own I am putting; and that I am liking the chart more and more. Someday I will get quotesplus updated so I am not just looking at the usual ones I look at. anyways ... reason I am liking this more and more is because of the 60 min desc tri I see forming ... one thing I have noticed about pattern formations is that with tie periods less then a day and patterns in those timeframes: I see patterns form slightly different ... ie I do see descending triangles reach all the way to the apex and then compleate positively. Magee in his book states that a triangle should break 3/4 into the pattern else there is a more likelyhood that it will fail ie reverse or do nothing significant. But I notice that on charts where patterns are on timeframes less then the daily ie 5 min or 15 min or 60 (I dont usually see that many patterns in the 60 thou that I dont see in the daily) - so I dont know how it works with 60 min. but I noticed this with 5 and 15 min. anyways back to T ... I see it forming a desc tiangle and this actually works well with the previous formed dbl top. Both when compleated meet the measuring line put in by first the dbl top and next the smaller desc triangle. I'm not sure if I mentioned this before; but I was heavily invested in STT a little bit back. If I would have held onto the puts I would have made out like a bandit; but I failed to see some T.A. there and got shaken out and lost most of the move; I actually lost I think a 1/8 on the trade. It's hard to relive some of those BIG mistakes but that is what I want to do to learn. Wierd thing with that trade I must have moved down 3 points, but due to time (ie about 2 weeks) and maybe decreased volititly the premium actually stayed the same. sometimes options are not good plays ... I'd rather just short em. I think my future plans will be to short stocks that a smaller priced and to buy puts that are expensive ie puts on GE (110 stock) or short PQT a (9 dollar stock). Sean