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 : Investor's Business Daily -- Ignore unavailable to you. Want to Upgrade?

To: adairm who wrote (100)	8/25/2000 7:22:29 PM
From: Doug Robinson	Respond to of 164

Adairm-I knew what you were saying. My reference to the handle falling more than 20% is from the high on 7/17. The cup and handle I am referring to is the same one as you are from the original March 8th high. You correctly state that the volume was too low at the breakout on 8/22. It was way too low. You might accept 135% to 140% in a slow summer month but it only did 110%. It was far less than the 150% needed. I was not looking at a handle within a handle. I made reference to that in case that was what you were looking at. In that case, the period is to short. This may become the appropriate set up however if a handle forms for a period of time and we then get the volume we need to breakout above the new PP. We can accept a higher lip on the right hand side of the cup as long as it doesn't rise too much above the 7/17 position. Hope that clears up any misunderstanding in my message. You do have a W pattern but again the formation of the double bottom in only four days and the breakout on poor volume in four weeks really is a very poor pattern. You'd like the bottom of the second leg to fall below the bottom of the first and you want some time between the two bottoms to shake out stock holders. Not many are going to get shaken out in three or four days.