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

To: Ken W who wrote (9955)	1/3/1998 7:56:00 AM
From: Ocote	Read Replies (1) \| Respond to of 79230

Ken-- It looks like HOG is an excellent example of why to wait for the MIMBO instead of jumping in on the record volume of the first bottom. I suspect that is why Doug has found it necessary to wait for a higher low. But I wonder if there are cases where one could safely jump in without waiting for the second low. I think Ill make a watch list of stocks hitting 52 week lows that have record positive volume the next day, then watch what happens. At the very least they will make good MIMBO candidates later, and perhaps I can see a pattern. Another category I'd like to investigate is also brought up by Pring: Retest new low within a relatively short period. Volume of the retest has very low volume compared to the first new low.(All sellers sold the first time it hit bottom). This would fit HOG better. The first time it hit the new low, BIG volume. As it comes down to retest 6 again, tiny volume. For three or 4 days after retests low--gradually increasing volume and all up days(you can draw an uptrend line on the volume). HOG would not qualify for my first category(HOT lows) because the record volume did not persist in the 2-3 days following the low. It only occurred for 1 day. Sorry this was so long. Probably someone out there knows the answer to this in one or two sentences. Ocote