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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (50614)	8/19/2002 10:29:27 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Paul, this is not directed at you per se, but I have read about at least 50 proposed wedges in the last few days. What passes for a wedge is shocking. Any trend that starts out with a pop, a pullback, and another rise will begin life as an apparent wedge. It's ridiculous. The bare minimum for a wedge is that we get two high and then, and here's a step that many chart-chasers don't consider, a pullback from the second high. There are other things to look for in a wedge, but this is the minimum. The other thing is the weird top lines that some folks draw for wedges. Any putative wedge with a top line that does not rise steeply is suspect.