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

To: Dave H who wrote (12438)	2/18/1998 4:33:00 PM
From: shasta23	Read Replies (2) \| Respond to of 79298

HI DAVE! Like i said i still consider myself a beginner going to intermediate and doug could tell you much more. But here is my take on 1)BTIC: broke through downtrendline on 01/16 and seems now to be in rectangle pattern between 14 and 16(don't had todays data in there but it failed yesterday at the 16).-just went back and looked what it did today:up 1 1/8. That's surprising. Closed at 16 3/8 above the rectangle. would like to see confirmation of that breakout tommorrow.-...stoch7,3,10 toppy, CCI(13)pulled back from overbought, Momentum declining, MACD OK, ...i would have said it will pull back to retest 14 but it didn't. NEWS? EARNINGS? 2)Prls was also up a point today. The stock was already up sharply and i don't buy stocks like that. I don't know nothing about sequentials and i would call this one a pole and flag pattern where now the next pole is created.As far as i remember the poles have often the same sizes. Last jump was from 9 to 12 which would limit this one to 15-15 1/4. I would consider this one already overbought before todays jump and even more today. The move today will probably close outside the Bollinger Bands and i suspect either resting(best case scenario) or pullback tommorrow. But who am i to say since i was calling this puppies wrong in the first place. I you bought 'em with the sequential...congrats!! Stefan P.S. Thanks for the stuff with stoch being overbought as a good sign. I guess i'm still too mechanic and need to learn more of the fine arts of TA.