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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: lee kramer who wrote (20328)	7/11/2002 6:47:43 AM
From: lee kramer	Respond to of 26752

Backman: One final comment on the bear-flag. The pattern represents a "pause" in the prior down move: some shorts cover, new shorts initiate positions. It's characterized by lower volume than the volume seen during the down move. And like all patterns it is not infallible, but it often gives you a 65-75% probability that the trend will continue in the original direction...and that's a pretty good edge when trading. The same is true of the bull-flag.

To: lee kramer who wrote (20328)	7/11/2002 2:06:54 PM
From: backman	Read Replies (1) \| Respond to of 26752

lee: thanks for your input...in retrospect (my most profitable trade strategy) i also noticed that HGMCY was trading above the 10high late in the day...not confirmation of a weak short...nonetheless, I took it home, and covered in pre-market weakness this morning for groceries... as an aside, this whole Gold/precious metals mania reminds me of the security stocks post 9/11 I may have mentioned here before that when i see "3rd tier" stocks, like VGZ and SLGLF.OB jamming, it starts to smell like "momo madness"...my favorite countertrend shorting strategy..