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

To: JRI who wrote (42186)	2/7/2001 11:52:20 AM
From: Dana Johnson	Respond to of 42787

The 8-10 record session pattern is in "Beyond Candlesticks" (Nison). 8 to 10 days of trend is a rough guideline, he says. It is supposed to be an important reversal pattern. I don't see a bottom on SCMR yet, if it holds 25 it would be nice to see 28 as evidence of reversal. Looking at the point and figure chart, it could trade as it did in december. The pattern looks similar. Then, after breaking a spread double bottom, it continued down another 12 points. I'm not saying it will, but if it doesn't hold here I think there may still be considerable risk. FWIW