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To: penpen who wrote (202461)4/2/2013 1:42:18 PM
From: Henry J Costanzo1 Recommendation  Respond to of 209892
 
Sorry…some confusion here, and I;ll have to run out for an hour or so…Will get back to you..



To: penpen who wrote (202461)4/2/2013 3:06:22 PM
From: Henry J Costanzo3 Recommendations  Respond to of 209892
 
Back to you..

First as to TA rules: You are correct IMO..if a stock breaks out strongly off a DT and maintains above the DT, it is a good sign of a trend reversal.

UNLESS, in the process of doing so, it forms a measurable bearish pattern. I believe it did so in this case..with a bearish pennant….and that would have to prevail and override any trend reversal signaled otherwise....

SECOND. as to the AAPL chart, I took at face value your words and chart, without checking my own chart..After doing so, what I see is that AAPL did NOT hold above the DT as viewed properly…on a log chart..Your chart appears to be on a linear arithmetic scale ..



To: penpen who wrote (202461)4/2/2013 3:53:19 PM
From: Henry J Costanzo1 Recommendation  Read Replies (1) | Respond to of 209892
 
FYI….AAPL and the long-term DT which was broken on Mar 22…as seen on a log chart..a few minutes before the close..