Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: AllansAlias who wrote (61649)	12/14/2002 4:20:52 AM
From: HairBall	Read Replies (3) \| Respond to of 209892

AA: I agree with you regarding this wedge, it is constructed incorrectly. However, you were wrong about the XAU and or HUI triangles you commented about a few days ago. And this comment "A rising wedge has to be born out of a reactionary low, not the high of a previous leg." is wrong as well. Rising wedge patterns should begin from the trend from which they form and they can form from both up trends and down trends. The initial or primary constraining trend line starts from a pivot point of the trend from which it begins. The secondary constraining trend line begins to form from a counter trend pivot point chronologically after the first pivot point of the primary trend line. Kevin Matras created some wonderful line illustrations that show how it is done... chartpatterns.com Regards, LG

To: AllansAlias who wrote (61649)	12/14/2002 2:43:01 PM
From: Shack	Read Replies (1) \| Respond to of 209892

A rising wedge has to be born out of a reactionary low Ahh, yes I agree. But have you considered the possibility that it WAS? I think the corrective low of wave 'b' could very well be Oct 29 low. In other words most everything from mid-Ocober to the 29th was a flat correction, slightly running. That's the danger there. As for bears being too excited, I think most will back me up that the trading focus this past week on the threads has been buying at support. Most looking to get long for the santa rally and I am no exception. Most still are IMO. I am not looking crash but I think we are going down hard early next week. And past these 'support' levels which are being ballyhooed every where (i.e. COMP 1347). Two straight weeks of down, VIX has dropped right along side. Most are still looking up short-term. Commercials shorter, small specs longer, its a bad recipe.