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

To: Warthog who wrote (19511)	7/17/1998 10:34:00 AM
From: Doug R	Respond to of 79282

Collin. FNTN: I usually give formations a wide berth in calling them an HTF but I can't quite bring myself to assign that label to FNTN. It's a very nice chart. I'd have to say it's a pennant formation rather than an HTF. The pennant can be considered a base also so coupled with the previous activity, it can also be considered to be a base on base. Alot of folks say that TA can't be used on the BB's. It's certainly an iffy proposition but IMO just as there are some BB's that actually have legitimate fundamentals, there are also those that can be TA'd. Make sure you see strong volume on any breakout on it. Doug R