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

To: MulhollandDrive who wrote (23454)	10/22/2002 10:18:11 PM
From: TWICK	Read Replies (3) \| Respond to of 26752

I remember during 1998, and 1999, the cup and handle pattern was better defined and did really well for me. In late 1999 into 2000 the long cup and handle in many oil stocks were also very well defined and produced some awesome gains if you timed it right. Later on, I found the same pattern in the Bio Co's. Late 2001, the Gold Co's. It is my favorite chart pattern cause the move out of the handle can explosive as we wittnessed in 1998 through late 1999. These ones are hard to make out and you don't know if you'll get the big volume for the brake out of the handle. It was pretty much a safe bet back then when just a sneeze could trigger a reversal. But then again, this type of market condition is new territory for me. It's my first depress... recession. Twick

To: MulhollandDrive who wrote (23454)	10/22/2002 11:44:35 PM
From: Susan G	Read Replies (3) \| Respond to of 26752

I went back and re-read your post, I read it wrong the first time...thought you were saying the shallow type were prone to failure. I agree with you, those are the good kind, and it was from O'Neil that I learned it. So I guess we can call this type momo cup and handles <g> Frankly I think most of them will break down due to being right at resistance, unless the rally ramps up again, then short covering could ram them right through that resistance. This bear is just trying to stay unbiased and catch some of the long possibilities, it's not easy to get rid of the bearish bias when our economy is such a mess and headed for more trouble IMO.