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

To: freelyhovering who wrote (21515)	9/20/1998 11:46:00 PM
From: Doug R	Respond to of 79460

Thanks Myron, You wouldn't happen to have the latest quotes on crude oil futures would you? Man, the stock market chat rooms are full of very scared little chatters. Early activity in Asia is ugly. Everyone's yelling that the sky is falling. A contrary indicator? Doug R

To: freelyhovering who wrote (21515)	9/20/1998 11:49:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79460

Myron, Ok, I found it. Never mind. crbindex.com Oil is UP. Doug R

To: freelyhovering who wrote (21515)	10/4/1998 8:29:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 79460

<message from Myron on Sep 20 1998 11:23PM EST Doug--ABT on P&F has a double top breakout at 45 and another breakout to new highs at 46 with nothing above but air. The count for the first breakout I believe is 58 as an upside target with an incomplete count.> Ola Amigo Myron. I was wondering if you could take a look at ABT and update your thoughts. ABT is due to report and should be an interesting play this week. Take a look at this write-up also. ABT closed under 43 on Fri.: Abbott Laboratories, ABT Market Call for September 24, 1998 Contributed by Mark Seleznov, TrendTrader.com. Double Top or Breakout? Abbott Labs, ABT, is now approaching its all time high of early July. The stock corrected 20% since this high. How can a trader play a pattern such as this? Will ABT break to new high ground or fail here and move lower? I like to let the market tell me. The 45 3/4 area was resistance for several days in July, and I expect it could be resistance here again for a few days. If it breaks through 46, in the next few days, ABT should continue higher and this breakout could take ABT much higher. The way I like to play this is as a volatility play. I would place an order, Buy Stop ABT 46. If ABT does not hit 46, you are not in the trade. If it hits 46, your broker Buys at the Market when ABT hits 46. I would also place an order to Sell Short if ABT hits 43 on the down side. If ABT fails at this level and forms a Double Top, this Sell Short can get you into the trade on the Short side. Both the 43 and 46 price levels can be used a Stop and Reverse Level for each trade. This strategy is for aggressive short-term traders. Longer-term traders should just place the Buy Stop Order, and just place a protective stop at 43.