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

To: James Strauss who wrote (287)	9/21/1999 8:46:00 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

Jim, Why do you think IFLO will move up now? Chart wise we could say the major trend is up and that we just flagged (bear). But that flag looks more like a desc. triangle. Although there is nothing to say that a esc triangle can't do the opposite and go on up. My 'guess' would be that we would be going on down; but I dont think I would play this one until it started to do that; being that things look a little confusing to me (but that may just be me). And to add to that; I feel that we will be heading down in the indicies. To have a nice correction. ie 9000 in the dow in the next few months (maybe more) and ~1175 in the S&P. Obviously these are just guesstimates right now. But I have been waiting for the dow to break on down. And if we didn't have such a big down day I might buy some puts; but I always hate it when I buy in then a stock moves up the next day big time to compensate for a large down day. I guess that's what T.A. is for. Sean