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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (25459)7/16/2001 2:45:54 PM
From: J.B.C.  Respond to of 34811
 
Shakeout: A stock in an uptrend forms two tops and breaks a double bottom. The action point here is a three box reversal to the upside.



To: Davy Crockett who wrote (25459)7/17/2001 2:01:58 AM
From: Smooth Drive  Read Replies (1) | Respond to of 34811
 
Hello Svenlar,

The Shakeout pattern I was pointing out was first described in Mike Burke's book, "Three-Point Reversal Method of Point and Figure Construction and Formation."

As to whether or not it will take -- well that depends on a whole host of things that may or may not happen and that few people agree on right now. I only post the pattern as a point of observation and to possibly elicit some P&F discussion.


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