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Strategies & Market Trends : Charts for Quick CASH $$$ -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (4580)	10/25/1997 2:41:00 AM
From: HeyRainier	Read Replies (1) \| Respond to of 9262

[ Ascending Triangles ] Ray, The problem with SCAN is that its price action is too smooth. While there is an initial attempt that was met with resistance, that resistance level didn't get reached again until after three months--and only then the second peak is established. Please refer to SPTR from April 1 to June 1--it provides the best model for the ascending triangle. Or for another example, refer to WLFI from May 1 to July 1. These are good models, and for both, you'll note that the pattern was established in roughly two months(also the case for MVSI and CCSI). The horizontal resistance level is formed by a total of three peaks, with the breakout occurring on the third approach, and accompanied by high volume. Where are all these characteristics with SCAN? The two month period has passed, and any attempt at forming the A.T. is way overextended. It's only now forming the second peak for the established resistance level, which may or may not break out from these points. Now while the description of the above Ascending Triangle may not conform to that of the "official" formation(whatever that may be), I have found that the chart developments that have conformed to the above description have had relatively higher success in terms of breakouts and strength. I hope this settles the matter of the Ascending Triangle. Regards, Rainier

To: Galirayo who wrote (4580)	10/25/1997 4:23:00 AM
From: Dave Shares	Read Replies (1) \| Respond to of 9262

(SDIX) Hello Ray, This is my first week following this thread. I like stocks under $3, so your list gives me several good candidates to research. SDIX was the one I liked the most this week. I was very lucky, because I really had intended to buy it before their record earnings announcement-it looked like they would have good earnings. The announcement came Wed. at 10:00 am, the stock only creeped up by 1/4, then the bad market on Thursday (which is when I bought it) kept it from moving, then today, BANG, up 1/2 (1 5/16 to 1 13/16)! Thank you for your work. I have a lot to learn. If I can help you, let me know. As a novice to investing, this reminds me of the movie " The Candidate" after Robert Redford is elected, and he says to his campaign manager, "Now what do I do ?" I see SDIX is still on the DITR list for tonight. Any thoughts on how high it can go ? I usually like to set a limit to protect my gain. Thanks again, and may peace be with you always, David