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

To: ACAN who wrote (38514)	2/13/2001 4:16:04 AM
From: Doug R	Read Replies (2) \| Respond to of 79398

Allan, As far as HTFs go (and Cup w/ Handles for that matter as well) I'm a strict constructionist. The initial move up must be a double and it must occur rapidly. I don't see a double and the move up wasn't exactly rapid. What I do see in TGX's chart is an extended period of hyper-accumulation (HA). It's definitely reacting positively to that but HA can be fickle and failures are drastic so keep it on a tight leash. For a target line on it look at 10/30 and 12/11. As for the failed MIMBO I assume you're using 9 or 10/99 as the MIM. That doesn't work because there's interference of the MDTL on the monthly bar of 4/98. You can't use 3/00 as a MIM cuz of the lower low. One HTF that I'm already in is XTEL. The double was from 2 to 4 (12/20 to 12/27) and I jumped into the breakout at 5 3/8 and 5 7/16 looking for 8. So far it's reversed and gone back to retest the top of the flagpole at 4. There's an example of that in the manual. I just have to tough it out since the short term TA is turning back up and it may follow that example in the manual and complete the second double after the pole retest. These formations that aren't 100% sure can be a nuisance. After 7 IL violators in the last 4 or 5 months it's easy to get spoiled. Now the only possible IL play other than MTON I am aware of is CATT but it's not even over its IL yet...grrrrr. I really like to have at least one or two violators on the back burner but the market doesn't seem to be creating any lately. When I see Wart for the seminar in Texas I hope to spend some time with him to refine the potential violator scan we have now. Well...enough gab for now, Doug R