Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (24416)	6/18/2000 8:47:00 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

On the WEEKLY charts the US DOLLAR just closed right on the the main trendline from the OCT 99 lows, when the DOLLAR was around 96. I feel that a significant break of this trendline would be another negative for the stock market seeya

To: donald sew who wrote (24416)	6/18/2000 9:26:00 AM
From: AllansAlias	Read Replies (2) \| Respond to of 42787

> In my "Encyclopedia of Chart Patterns" by Bulkowski, he says that the H&S pattern reaches the price computation only 63%....< >> that is actually quite good, but still only slightly better than flipping a coin << Morning everyone. 63% is a helluva lot better than a coin toss. Also, note that he says "reaches the price computation". Does that mean that there are instances where the trade wins but the measured move is not completed? I like H&S and find it a great trading pattern. I never sell the neckline on the first break, but wait for a pullback. If there is no failure after the pullback, then go long with the "Hound". Unlike many, I find H&S also works well in short, say >=15min, timeframes as well. We had many of them on the NDX during April/May correction. Cheers --Allan

To: donald sew who wrote (24416)	6/18/2000 12:09:00 PM
From: Les H	Read Replies (1) \| Respond to of 42787

Nice Dow chart with volume analysis chartpatterns.com

To: donald sew who wrote (24416)	6/18/2000 12:32:00 PM
From: Trading Machine	Respond to of 42787

Yes Don, I agree, just a little context on Bulkowski. First, I don't treat it like a bible, I just tend to notice some interesting things he has to say. And by way of clarification, he is saying that only 63% of the time is the target or calculated level reached - that is not to say that it was not accurate in the direction of move or the probability that it would occur at all. In other words, he said that if the break was down on a topside H&S pattern, it only met the calculated value 63% of the time. He places more stock in patterns that are 80% (and higher) reliable. I very much agree with your analysis - there is a move afoot - direction may be down if it isn't up (ggg), but it should be a quick move in either case. For sure there is a H&S on the OEX weekly, there is also a diamond pattern. It has been stated in several forum that the diamond pattern isn't that reliable as far as to the direction of the move, but move it will, and I think it will occur in the short term. Looks to me as an OEX move down until next Wednesday or so then up into the FED meeting. The outcome of the FED meeting will have a substantial impact on the next several days after that. Out longer term, into the elections I would expect a slope up on OEX to the mid 900s, so I am a bull on the longer term stuff. CU Paul K.