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

To: TechTrader42 who wrote (34977)	4/26/2002 11:49:52 PM
From: Gamma Positive	Respond to of 52237

"I'll remind myself to bow down daily to all those who've been calling for a strong rally every single day for the past few weeks, and hurling insults at everyone who doesn't agree." You must be talking about someone else because I have done none of that. Nevertheless, don't pat yourself on your back too much. You might hurt yourself that way. <g> And if you want to strut your stuff somewhere, try this place: Subject 28666 You'll definitely get the run for your money there. Guaranteed. That is, if you're up to a challenge. ;-)

To: TechTrader42 who wrote (34977)	4/27/2002 9:22:48 AM
From: Terry Whitman	Respond to of 52237

You are so gracious and humble. I seem to recall you suggesting it was a good time to BUY just a week or so ago. I guess that was for a daytrade only. LOL! UR are not only a A-hole, but a two faced one at that. You think that you can charm people with your high language and they won't see through you. BTW, your chest pounding is very attractive. I hear it will grow hair on it though, so you may want to keep a razor handy. WTF have you profited from anyway! At least the real bears over on the clown thread are making money on their bearishness. Are you saving your cash to buy the bottom? LOL! Or are you just here to annoy those of us that are trying to make money?

To: TechTrader42 who wrote (34977)	4/27/2002 12:06:46 PM
From: Robert Graham	Read Replies (2) \| Respond to of 52237

Price has been in a type of large congestion pattern. Two legs make up this pattern, each a pattern that has moved price down. There was an initial move down, following by a quick rally, and now we look to be finishing up this last move down. Since this is part of a large congestion pattern, the moves down are move significant that normally seen. Each leg down is characteristic of a type of congestion pattern that I have seen from time to time, but more extended. Both legs make up a larger triangular type of pattern. Volitile price action has obscured a good read of the market for many. Each can see what they want to see in the extended move up (and down) being made by price. The extended moves only indicate that short term speculation is alive and well in this market. This type of price action is creating noise in the marketplace. There have been a couple attempts during this basing pattern for price to move up from the current leg of this pattern. And there have been two times it has tried to make a move up in the broader congestion pattern. But each attempt at move up has been met with decisive selling. However, each attempt has moved up enough to allow some to put a bullish read on what happened. What is further obfuscating a good read of the market is that price appears to be operating in a longer than normal time frame in how patterns develop. This is separate from my observation that price is in a large triangular congestion pattern. So the question becomes when does this current extended downward basing pattern is no longer considered a basing pattern? Particularly one this large? My answer is when key support is not respected. So next week should be interesting. The term "basing" and "congestion" really are interesting terms to me. A basing pattern implies direction. After a significant sell off, many use it to anticipate a move up. Or after a move up, it may mean a continuation move is in the works. Here we are talking about people and their perceptions. When I see price behave in such a way that predicts continued price movement in a price range, I just call that "congestion". And then I wait for price to exit that congestion trading range. Sometimes price can indicate at an early stage what direction it will likely move. Sometimes later in the congestion trading, price does provide a tip off as to what will happen, and even provide a good entry point. But much of the time, I find this is not true, and it is best to wait and see what happens. There are some congestion trading ranges are even large enough and the price movement is directional enough to be traded. This does not happen often. Still, patience is very important in trading ranges. For most traders, the best idea is to sit on the sidelines. This is where price will end up making its most attempts to fake the market out. I look at congestion trading ranges as one tool the market uses to get its money back. And much of the time, that is exactly what happens. Here is a musing of mine. I think with such a congestion pattern that becomes very apparent to the public at large, either the market will be paradoxical and find a way to fake most traders out of their positions just before it puts in a good move, or it will become directionless for a period of time. This good move it may put in can either be in the direction most anticipate, or not. But either way, the psychological detours that will be made will fake most out of their positions. This is the diabolical nature to the market. And patterns this large never resolve in the way most traders think it will. So I see the market has been trading in congestion. However, from my perspective I cannot succumb to the commonly used tern called "basing". The congestion trading range is large, which is designed for the very short term trader. And until the market sorts itself out in a way that I can identify, I will continue to call it simply an extended congestion trading range. For those who see this as a triangular pattern that portends a move up by price, I am skeptical about this conclusion. I do think the larger pattern is one of those instances where it looks like something from the textbook, but it will not turn out to be what it looks like. For that matter, this last leg down appears to be too extended, which IMO invalidates the triangular pattern. And yesterday, price supports have been broken. Next week will tell if price continues. I am beginning to think there will at least be a test a key support below the current one that may be broken. But this is just an opinion. And we all know what an opinion is worth. I think the first day next week of directional price movement will be the signal worth noting. My few words, and two cents, FWIW. ;-) Bob Graham PS: A note to some on this thread. Lets keep the trashing of others off the thread please! :-)