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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: qu168 who wrote (34215)	2/25/2000 2:11:00 AM
From: Doug R	Read Replies (2) \| Respond to of 79243

q, The ECHO chart shows you tried to dance on a very narrow dance floor. That uptrend line from 12/10/99 doesn't allow for much in the way of trading in and out at this point. Couple that with the predominant cup with handle pattern from the high on 11/30/98 and you'll see that ECHO's very close to party time. Even the handle is forming its own little cup with handle here. The uptrend line defines risk on a supply/demand basis. As such, there is almost no risk involved here. The activity within the handle is extremely encouraging. Sitting around in ECHO for a relatively short time puts holders in the catbird seat. ie...no loss on a breakdown with very significant potential to the upside. Come to think of it...this is an optimal area to add to any position. 3 1/8 to 3 3/16 should be the cheapest to expect. But I'm usually not one to quibble over steenths or even eighths. Thanks for pointing out your predicament. It helped me to arrive at a decision. Doug R