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 : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: ACAN who wrote (42218)	5/3/2003 3:38:43 AM
From: Warthog	Read Replies (1) \| Respond to of 79296

Hi alan, I get the same ACT. I would have used 2/14 -3/6 for the IL. A little steeper and more impossible. Anyway, one should expect the RR this week. wart

To: ACAN who wrote (42218)	5/3/2003 10:35:57 AM
From: Doug R	Respond to of 79296

Allan, Wart, EVOL ACT is there. 3/14 - 3/17. The IL is definitely problematic. A by-the-book construction would be 2/13 - 2/24 but that is less steep than the ACT so invalid. A line that has valid characteristics would have to use 3/6 as T2. That's plausible since it yields a line parallel to the ACT but somewhat unusual since it's not at all an obvious T2. The main thing now, I suppose, is that the ACT and potential for RR is the concern in any case. A clean bounce off the ACT would have called for a 30.68% bounce. The leakage below the ACT has knocked 8.19% off that. There's other trendline support down around 2.55ish so potential risk is still kinda high. Initial entry may not be too bad if it starts up with any conviction on Monday. If it keeps leaking below the ACT I'd go with that other uptrend line as a point to consider entry. Looks like a good trade will be available...entry will be key though. Doug R