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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: John J H Kim who wrote (2260)	11/6/1998 3:53:00 PM
From: LastShadow	Respond to of 43080

URGI and Cup and Handle Well, it is in a nice pattern, but the Cup and Handle formation is one of those few that do have a volume dependency. That is a little complicated to get into here, but it basically requires light selling pressure on the downside of the cup and increasing buy volume on both the up curve and the handle, with a compression into the jump. That is one of the reasons the Cup and Handle is so rare, because the buying pressure generally puts the stock on a slow uptrend at the minimum instead of staying horizontal. I looked at URGI and I remember someone else asking me about it a wekk or so ago. It looks okay for an entry, but the daily chart is less tyelling, so I will pass on making any guesses for now. Have a safe weekend gang. lastshadow