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

To: belker who wrote (116)	10/29/1998 10:47:00 AM
From: sean sanders	Respond to of 967

Bob, PIXR - Looks like an asc tri to me. Somewhat 'off' shaped, but I think that's just fine. I'm wondering what it's doing there the past 5 days ... wonder if it's getting ready to make a break for it. Perhaps the bears are getting tired of fighting and will switch to being a bull. I'd put the resistance line at the horizontal above 9/24 (hanging man). With a 'medium' sized asc tri like this one could be more liberal on where one puts a buy stop etc ... perhaps 1/2 to one point above that line. Also one note - would you call the previous rise and fall a H&S top? If so, note that it didn't complete the MM(measured move) exactly, but we still had a decent move. OR you could start calling the last part of the H&S a des tri and say it was that. nice pick Bob Sean

To: belker who wrote (116)	10/29/1998 12:20:00 PM
From: sean sanders	Respond to of 967

To All, One thing I'd like to point out it that some of the simple formations such as gaps and flags can be excellent patterns also. I'd almost rather be in a good flag then an asc triangle for that matter; I sometimes have a hard time figuring out if we're in a flag though and not in the start of a 'correction' - well actually a flag is a correction (in text book sense - depends on where the flag is but its the people taking profit on their gains). And what I mean by start of a correction I mean just that a flag is a small correction, but that we then continue on up in a nice timely fashion (more money going into the stock/ or more shorts in a downtrend), the other correction is well less desirable (no new money/ or new shorts). for a nice example go back in your charts to 7/11/97 in ALSC and notice the flags in that uptrend. Sean

To: belker who wrote (116)	10/29/1998 12:27:00 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

When I talk about small caps and the 'crazy' things they can do. Take a look at ESA, it looks like we have a strange hanging man with a dbl bottom before that (that yet has to cross the neckline) and then bam! gap, big white candle and we complete the dbl bottom. I mean that may be all were going to get from that measured move, so one day and that's it. Well we will have to see if that's all we are going to get, but yesterday's move pretty much completed the MM though. Sean