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Strategies & Market Trends : TA setups-ex th traders -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (6697)	5/14/2005 12:57:41 PM
From: cthruu	Read Replies (1) \| Respond to of 7682

YHOO gap you pointed out could be a continuation gap - not a breakaway or exhaustion gap. However since there has not been a follow through, it is meaningless in my opinion. I see YHOO as meandering and forming a small flag inside a big symmetrical triangle, stuck between the trendline resistance and 50/200 MA support. YHOO's large float after umpteen splits makes it a behemoth, unable to make rapid moves one way or other. ttrader.com\'s%20charts&id=879&d=2 Until it breaks one way or the other the direction is not clear. BOP and money stream are in the middle, so is TSV. Other indicators are of no value at this time. I was posting the big dome back in December/January which has formed a large head of almost one-year head and shoulder pattern. Back in around February I thought YHOO will make a nice shoulder around 34.50 - now that the shoulder is going sideways, the direction is not clear. If you must, you may want to straddle this sucker. No directional trade here IMHO :)

To: Galirayo who wrote (6697)	5/14/2005 1:34:38 PM
From: cthruu	Respond to of 7682

Here, as I understand, is Sprandeo's 1-2-3 pattern in evolution as SHLD continues to evolve. I do not know how this will play out. It looked like cup-and-handle a couple of days ago, but there has not been an upside break as yet to complete that. if it fails here it will become 1-2-3 reversal. This is a bit more clearer pattern than the AFFX I posted last night. SHLD May 2005 ttrader.com\'s%20charts&id=879&d=2 Point 1 is first break of the uptrend line. Point 2 is failure to take out the prior high. Point 3 is break of the in-between minor low. If SHLD trades below 128.75 low the pattern will be complete. The "2B" is if the point 2 makes a higher high and then trades below the prior high. In the example of AFFX I posted yesterday, actually the point "P" would be a 2B setup - a failure of higher high and trade below prior high. That gets you into a trade earlier than waiting for 1-2-3 pattern to develop. The stop will be at the pivot. ttrader.com\'s%20charts&id=879&d=2 The conditions will be reverse in a down trend. Here is chart of INTC in October 2004 making a 1-2-3 bottom. A break of downtrend line, failure at the low and trade above the minor high inbetween. ttrader.com\'s%20charts&id=879&d=2 One can make an argument that the preceding Sept 28 low was a 2B low. I dunno. Hope this helps. Again, if I am wrong please correct me. :)