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

To: Cube who wrote (17120)	5/19/1998 2:18:00 AM
From: Doug R	Read Replies (1) \| Respond to of 79284

Cube, Ok, I'm not even going to look at the chart. I will however describe the strategy entailed: A descending triangle has a flat bottom. Any break below that bottom is, chartwise, a sell signal The short term trend of a descending triangle is, as defined by successively lower intraday highs, ...down. When a stock breaks above a downtrend line, the overriding consideration is whether or not volume is supportive. One technical confirmation of volume support is if the OBV also, convincingly, breaks a downtrend An intermediate term RSI breakout is also good technical confirmation. The time frame of the trade must also be defined along with an analysis of minimum and maximum expectations that support a reasonable (cold and calculated) personal target range insofar as the business of turning a profit is concerned. There are a gazillion systems espoused that can work for anyone. The system that I use allows for anywhere between a 5% and 15% downside (assuming downside exit rules are adhered to) while opening a significantly consistent opportunity to achieve short to intermediate term gains of 20% to over 100%. Now, how does CXIM measure up to this, doable, discipline? I know you're willing to get it all defined. I'll bring enough weaponry to LA that you'll have no problem defining a gameplan...if you pay attention. That's the hard part. Doug R