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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: bcrafty who wrote (24967)	12/12/2001 7:31:07 PM
From: Doo	Read Replies (1) \| Respond to of 209892

>>I would have felt better if we had gotten all the way there, but I guess that leaves some room for a little more downside tomorrow and Friday.<< Actually, I disagree, and I think it's an interesting issue. I was just commenting to someone today that I often see indicative moves within patterns that presage a coming breakout or breakdown. When we stop short of the next "expected" reversal point within a chart chaser pattern and reverse early, it can often be a sign of resolution of the pattern, one way or another. So, I think stopping short of the lower trendline you are pointing to may presage a breakout of the pattern, as opposed to a breakdown which is what we would expect. Does that make sense? Obviously, it has nothing to do with ewave since I'm kind of a modified chart chase and haven't an 'e'-clue. IIA sentiment numbers moved to 43% Bulls and 28% Bears, way out of the extreme bears number that made the market ripe for an IT turn, IMO. Go Pitino!