To: Trader X who wrote (11267 ) 2/4/1998 8:29:00 PM From: Jeffrey S. Mitchell Read Replies (3) | Respond to of 17305
(Please note that the following message deals with FBNA's technical status. If technical analysis makes you cough up phlegm, please do not read this message. It will only cause you to lose a lung. Note: One does not have to understand technical analysis to understand this message. It has been written on a level that even a gesticulating chicken can understand). Well, FBNA has formed a very bullish TA signal today. As you might suspect, today's breakout was the first "confirmation" of this formation. FBNA has now formed a dodecahedron - a signal that usually results in setting new highs (or at least breaking intermediate resistance). This formation has been in the works since Monday - 3 full days ago. The shorter the formation, the more violent the breakout. For those of you that might wish to see it, print out a graph of FBNA for one week (if you are psychic, you don't need to do this). I'll attempt to guide you on drawing this picture for all to see.... The dodecahedron consists of lines (as all non spherical shapes do). You have two lines descending diagonally from the top, two lines ascending diagonally from the bottom, and fourteen random lines that form the base. The asymmetrical dodecahedron (better known as fractal chaos) is lying on a 45 degree angle to the southern magnetic polar field -- essentially 45 degrees further toward the sun's corona than the Tropic of Capricorn (don't worry - that's the toughest this jargon gets). To construct the dodecahedron (or see it, I mean), you need to draw the first line, the Long Downtrend line, starting from 1/27/98's mid-morning median volume adjusted Fibonacci high of 104 17/32 and passes through, among other points, the Elliot wave adjusted spread differential high of 103 11/64 achieved on 2/2/98. This line actually passes through multiple points (and is broken by today's rise), but those 2 will be sufficient to see where I'm coming from. The second line to be drawn, this one the uptrend line, starts from the low of 102 3/8 on 1/26/97 and goes through the low of 102 7/16 which, coincidentally, occurred on the same day. Both of the lines described above should be extended to see the full range of the formation. To "see" the dodecahedron, get on your hands and knees, peer through your legs, and tilt your head toward Mecca. And, voila! There's a dodecahedron! If you're curious as to why the price did not go all the way into the bowels of the southernmost triangle, it's because breakouts of true asymmetrical polygons are done before the stock ever reaches the tip of the hypotenuse (this is because people are too busy doing TA instead of looking at fundamentals and when they see something that looks valid, they push it out a bit early......but since it always happens, it's actually the "right" time for them). Look for FBNA to continue its new highs the rest of this week and next week so long as the DTL is never penetrated again from the top. (In case you're wondering, the DTL is the innermost boundary of the middle trapezoid....the one with a negative slope). Please e-mail me if you'd like to be sent a picture of what all this looks like if you can't seem to be finding it yourself. Good Trading/Investing to All Conservatively Yours, Jeffrey S. Mitchell With credit to:207.183.153.23