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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: James C. Mc Gowan who wrote (15672)	8/21/2002 12:23:55 AM
From: Jorj X Mckie	Respond to of 17639

well, I don't know how closely you follow me, but I departed from conventional P&F interpretation a long time ago. Often ascending wedgies can be identified on the P&F chart and they do look bullish by conventional interpretation. I learned to stay away from those on the bullish side. Of course, until the BRL was pierced, there would have been the caution on the BTK, but since that was done recently, I expect that most piffers are bullish on the biotech stocks. P&F is used by floor traders because of its simplicity and compactness due to no time component. I am certain that floor traders look for many of the same patterns on the P&F charts that others look for on conventional charts. A big rounding top on a P&F chart is even more reliable than a rounding top on conventional charts.

To: James C. Mc Gowan who wrote (15672)	8/21/2002 2:31:17 AM
From: Jorj X Mckie	Read Replies (4) \| Respond to of 17639

The Bearish Case CRB chart bullish and through the BRL stockcharts.com Last January, Greenspan said that low oil prices would be necessary to sustain a healthy recovery. Light sweet crude was trading at $18/barrel at the time. Since April, oil has been trading between 24 and 29/barrel. Today, it broke out to $30/barrel stockcharts.com The USD broke down from high levels. Now forming an H&S pattern that looks to be completing the right shoulder with an inverted hammer. stockcharts.com[r,a]dhcaynay[d20020419,20020820][pb50!b200!b30!b20][iUb14][J5564612,Y]&pref=G Dow 100pt chart broke a quad top and has advanced to the BRL. The BRL has successfully repelled these runs even though they have solid buy signals. stockcharts.com SPX rising wedge on declining volume. Sept 2001 lows of 950 acted as resistance on this last run. Stochs at overbought levels. Weekly chart has inverted hammer. stockcharts.com[e,a]daclyiay[d20010819,20020819][pb50!b200!b20][vc60][iub14!la12,26,9][J5640814,Y]&pref=G Naz retrace seems to be in play still....next stop, 1251....1000 by the end of october stockcharts.com[r,a]daclynay[d19960701,19970531][pf][J5664705,Y]&pref=G BPs have reversed up from the recent low levels only to reverse back down and set new lows. Using the 1pt chart, April 2001 is a good example of this. stockcharts.com VXN doesn't have too far to go until it reaches all time lows....only 10pts from here. stockcharts.com VIX in an area of support. Could get a bounce here. stockcharts.com Mainstream media and analysts are all calling July 24th as the bottom. Vast majority of bears that I have seen expect a retest of the recent bottom to be the maximum downside. Might be time to really surprise the masses. put/call ratio bounced of lowest low in 5 years. stockcharts.com[r,a]daclynay[d19960701,19970531][pf]&pref=G Check out the ascending wedge on the BKX P&F chart.... stockcharts.com Low interest rates stimulated consumer spending. This means that future sales were cannibalized and that the consumer now has less buying power and more risky debt. Any consumer driven rally is toast.