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

To: Casaubon who wrote (285)	9/22/1999 10:50:00 AM
From: sean sanders	Respond to of 967

Casaubon, I'm liking the way PG is looking more and more; ie the 60 min or daily. Nice H&S forming ... btw I do own puts in this stock and I am not trying to hype it at all; although I may be talking about this one more then usually due to the fact I thought I was going to loose my whole premium on it then it started to form a H&S so I am a bit relieved about that. My intention was not to have hype on this thread; but to have T.A. there are probably 1,000 other threads here and 100,000 others elsewhere on the net for hype. One of the first trades I ever did was do to my limited knowledge and 'believing' in hype. ie I trusted what others had to say about a stock. I'm not saying now that I still dont have limited knowledge; sometimes it feels like a whole lot limited, but I am alot less likely to trade because so and so spams (ie cnbc, wallstreet jounrnal, IBD, or Joe Smith). anyway I'll get off my soap box here. Sean

To: Casaubon who wrote (285)	9/22/1999 11:09:00 AM
From: sean sanders	Read Replies (1) \| Respond to of 967

Casaubon, One thing I have done since I learned about T.A. was to concentrate on one form of T.A. and learn about it, watch it in action, possiably even trade it; although this is probably not the time to trade it ie when leanring about it. One thing we were talking about awhile back was the Spring formation ie hit a support, large volume, maybe a hammer formation or nice white reversal. I still like that formation; I've just been bearish forawhile and so I havn't looked for many springs of late. The recent formation that I have been studying is the 2b formation as talked about by Victor Sperandeo. I thought that playing this formation could lead to real nice returns; although I still need to test it and learn more about it. One stock I was testing with this formation was CSCO. I should have spent more time looking at the chart to see what this one may not be a good candidate. ie there is a upward slope in the stock and the stock seems to be quite strong. As I look at it now this would be a wrong play to use the 2b rules to play it on. I think I bought in on 8/31 (sold short). I was playing the candles for the sell placement. But still when looking at the whole picture it looks like a bad play. I mean when looking at the longterm trend the trendline is not that far below where it is at; hence a bad play; hence I will be looking to exit my position as soon as I can. Sean

To: Casaubon who wrote (285)	9/22/1999 11:16:00 AM
From: sean sanders	Respond to of 967

Casaubon, ESIO ... Here is another play I made that I failed to see the 'big' picture. I bought in on 8/4 thinking that we did a triple top and were now headed for lower levels. Now just glancing at the stock I see primary trend as up; with a consoladation and then another move up ... ie T.A. says it's supposed to moce equal distance as it did before the consolidation. Also when I saw the reverse small H&S after a week that I entered I should have exited; could have still kept 1/2 my premium; now I lost all of premium. btw INTC and GTW have done similar patterns recently ie move up consolidate and then move up equal to in length. Sean