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

To: Esteban who wrote (10252)	1/8/1998 11:09:00 AM
From: ivan solotaroff	Read Replies (1) \| Respond to of 79308

Esteban, Yes, your line from 12/17 through 12/22 works well. Let's call it a SEEP, Somewhat-Early-Entrance-Point. I insist, however that the MEEP works as well here, and is in fact right on target. re: "I don't see a 12th top" Every day has a top or bottom. As far I'm concerned, violation of the MEEP is inconsequential if it continues to apply. Draw that line from the tops of the 10th and 12th again, and you'll see that, though it does cross one top on the way down, it continues to be in force, as one might expect from a day like 12/10, in which volume was huge. As with anything, volume is always THE KEY. I won't overlook any line coming from a day like that, even if it's violated once or twice. If it continues to be felt three weeks later, it's more than likely THE FORCE acting upon price. If it is violated on a high-volume signal like the PGDCEB signal, that can only make the buy signal all the stronger. But I rant. ivan

To: Esteban who wrote (10252)	1/8/1998 11:33:00 AM
From: Dave H	Read Replies (1) \| Respond to of 79308

For this to be effective maybe we need to draw lines from only the last two tops if the original meep is at a shallower angle. In this case a line from 12/17 through 12/22 works perfectly, believe it or not. Esteban, this is a strategy used by DeMark in defining trendlines; he uses the two most recent points (he calls them TD points, which are basically tops or bottoms that are higher/lower than the day before and day after) to define the current trendline to use, since his reasoning is that this shows a new market dynamic and thus is more relavent. I just throught I'd mention that since what you said sounded so similar! -dave

To: Esteban who wrote (10252)	1/8/1998 1:21:00 PM
From: ivan solotaroff	Read Replies (1) \| Respond to of 79308

Esteban, Looking at the 5-day chart for OXHP. The "two-day trendline" that I thought was "established" by the high today is actually traceable straight back to a) the top of the cat-bounce, and b) to the spike high achieved on the way down. The line shows a close of around 3/4; 1/2 tmw, etc. This should bounce once or twice more before it goes down, should one care to get in on a requisite uptick. We're looking at a series of descending tops now, so anywhere around that line should be considered a relatively safe sell point. All, of course, just by way of cat scholarship. DIE OXHP DIE OXHP DIE OXHP DIE!!! Ivan