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

To: donald sew who wrote (34903)	11/6/2000 4:13:06 PM
From: oldirtybastard	Read Replies (2) \| Respond to of 42787

I wonder donald if these days trading against most common chart patterns would work better than using them as traditional indicators as so many people following them would already be buyers by the time the pattern is formed, and without further catalyst and resolution in the direction of the supposed move (since who is left to buy the chart?) would be sellers as they were only buying contingent on the move happening in a relatively short timeframe. I suppose this would apply more to momentum stocks where a significant part of trading is pure momentum hedge funds and individual traders, but the BTK could reflect the same as so many of the underlying issues are full of momo types during the recent runup and potential new high. like the bull trap in MLNM that bobby beara alluded to and it looks like it happened today I know you have your own system that uses many variables and don't trade individual equties for the most part, but wonder about your feelings on this..I mean logically charts patterns alone have to stop working or work less and less as more and more people follow them