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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Smooth Drive who wrote (15410)	2/27/2002 8:50:19 PM
From: booters	Read Replies (2) \| Respond to of 18137

OK, I will try. A good example would be IBM. Look at the daily chart for the last few months. The last signal was a short on Jan 14 at 119.80. A cluster began to built on about Dec 6th and continued to build for a few weeks. When the bottom of that cluster broke I would go short. No tops of any clusters after that fall have been broken and new lows have been made without an extended pause so I consider the position still short. AOL and the break at 31 is another. Another recent signal that turned out to be better than expected is CC. It started a new cluster the beginning of Jan and established the first bottom on Jan 17th. Another bottom on Feb 8th and then broke that bottom Feb 15. That evening the bad news came out and Bang, what a ride. Some more, EBAY and the break at 63. MYGN and the break at 38. BRCD and the break at 32. LEH and the break at 63. QLGC and the break at 43. Maybe some people would find it easier to think of this as breaks of previous pivots. That might make sense to more traders than the cluster idea. It is not how I think of it but might help others understand it better. Hope that helps, boots