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Strategies & Market Trends : Aardvark Adventures -- Ignore unavailable to you. Want to Upgrade?

To: creede who wrote (5412)	8/9/2008 5:09:20 PM
From: ~digs	Read Replies (1) \| Respond to of 7944

MYRA pennant? Sorry, not even close. Well formed pennants are rare. My focus watchlist has about fifty uptrenders on it, and as of right now I don't see any tight pennants jumping out at me. Some people use the term more loosely. They'll draw any old triangle and call it a pennant. For me, the very best pennants occur high atop a volume laden impulse up or pole. Subsequent consolidation should be nearly symmetrical. Often it will have a couple successive inside days on declining volume. In an effort to be more descriptive, some traders will call this a 'high and tight flag.' To illustrate, I suppose the closest thing I've come across lately is VSCI.. Three reasons why VSCI's pennant is a weak example: -lacking big volume for the initial impulse up -not occurring at or very near a high -not symmetrical (nevertheless, I still think VSCI looks enticing here given a very strong uptrend on the weekly) for more reading, here is a pennant lesson with which I mostly agree.. istockanalyst.com think of a baseball pennant blowing in a stiff wind.. high at the top of a pole ..this should be your visual does it sag? no, and neither do the very best pennant formations