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

To: cog who wrote (3350)	11/29/1998 8:25:00 PM
From: LastShadow	Read Replies (4) \| Respond to of 43080

AMEN and cup and handle I looked at the article about the cup and handle, and AT is absolutely correct about the volume dependencies. The second point is that Indices do not fall into cup and handle formations or any other for that matter - they can't because he volume is relativly stable throughout the year. There are some light and some heavy days, but the bottom line is that there just isn't that much variance. The only really valuable thing you can do with most indices is trendline them. AMEN should open up, jump up much higher and sell off. just like everything that rocketed on Friday - like ONSL, CDNW, etc. The trick will be to figure out whether to sell and rebuy, and when, or if to just hold for the rebound. My guess is that dueto the huge spike on close and lighter volume to pick a strike, set a sell stop and hope you are right. I would give AMEN at least a 25% jump possiblity, but I don't follow the stock and that is just a chartist's guess. lastshadow