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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (3470)	11/12/1998 7:55:00 PM
From: Wayners	Read Replies (2) \| Respond to of 8307

I just like to try to look ahead a bit. You're right there is no pennant yet. But I'm always thinking and looking ahead as best I can. I look for any patterns I can possibly detect. Its just my style. The pattern in itself isn't really all that important. I only want to know one thing, where price velocity is likely to increase so I can set appropriate orders at appropriate places. A pennant or descending triangle would be the likliest patterns during this consolidation, so try to pencil one in. It only takes two points to draw a trendline. Three for confirmation. Even Elder's Trading for a Living Book supports using one point to draw a trendline at angles parallel to previous trendline patterns. I use that one all the time.