Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: belker who wrote (110)	10/27/1998 9:16:00 PM
From: sean sanders	Respond to of 967

Bob, I just took a look at MYL and MNMD. First off MYL ... here's my question to you or to all the large dbl tops out there ;) "If MYL completes a dbl top will it fulfill the measuring line (meaning MYL's measuring line is quite large will it drop low enough to complete it?)" ... what do you think? I think I actually had this question about 4 months ago and I still havn't figured it out ;) I have seen this thou before ... notice MYL's slower decent up to the second peak. This is quite common and some people say it's the norm (or what to look for). Magee's book T.A. of stock market trends (I think that's the name of the book). We're still early in the ball game before we can call this one a dbl top, but like I mentioned in a previous email about 'looking' at potential d top/bottom candidates and 'seeing if it's possible to play them as they start their last leg - obviously saftey measures need to be put into place once it get's close to the neckline in case of a bounce back up per say. MNMD ... well you could say it's at a resistance line there (it does depend on where you draw it), but I like to sometimes think "not every investor is a chartist so dont expect them to follow trendlines to a T" ... you could also say we have a hanging man today (sometimes indicative of an up coming downtrend, but sometimes not). It may appear that the only thing the past three days wanted to do was close that gap on 9/8/98 and now proceed back up ... or it may close the gap bounce of a resistance line and complete a dbl top nicely. Also note - 7/13 8/31 and 10/20 - draw a trendline from these spots and the dbl top has a bit more resistance to get through before it can go lower. any comments ... nice picks btw Bob ... let's keep an eye on them and see how they do. Sean

To: belker who wrote (110)	10/27/1998 9:27:00 PM
From: sean sanders	Respond to of 967

Bob, ahhh ADSK is moving ... Either it's time to close that gap or the investors finally figured out that we have a dbl bottom here, so they opened up thier pocket books. fairly strong candle day, I'd expect another decent rise tomorrow, but be careful for those hmmm what do I call a shooting star without a gap? anyone know (small candle body, long upper shadow, no gap, body near lows of the day) ... anyways looks like we could go up another 2 1/2 points (to fill the gap at least). I still havn't figured out what that last little jig was (the previous 4 days). Sean