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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (4348)	9/22/1999 8:40:00 AM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Dan, <If there was something I should have seen earlier to tell me to stay in, I'd be interested in knowing that> Well there is. Of course it's second guessing at this point but look at this chart: hardrightedge.com My experience is that horizontal support/resistance is more important than trendline S/R on very short-term charts. Cup and handle formations provide very strong support most times. I have this pasted on my desk. It's been there for 6 years: Dynamic moves return to the point of last support/resistance unless a natural barrier (ie.e. a gap) stands in the way. There is a fairly common conception that trendline breaks mean reversals. This isn't quite true. Trendline breaks means the start of sideways movement and maybe a reversal. CSCO did have to test your exit point after you left to strike a double bottom support before moving higher. Finally, this was on a Friday afternoon. You were smart to get out because any type of prediction becomes harder at the end of the market week. Alan