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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Greg McDaniel who wrote (5879)	12/10/1998 12:56:00 AM
From: Pallisard	Respond to of 27311

Geez! It's beginning to sound like astrological TA here. What is signified by a an unreal midget enclosed in a trapezoid? Sorry guys, I guess the only candlesticks I really understand are on my dining room table. No offense intended. Pallisard

To: Greg McDaniel who wrote (5879)	12/10/1998 1:08:00 AM
From: Bill 49M	Respond to of 27311

Greg, Yes, better, but not exact. My source says a Unique Three River Bottom "is such an unusual and precise pattern, there is not much flexibility." The second day (Tuesday) should open higher, instead of gapping down, like it did. Like most reversal patterns, volume should support the reversal to ensure greater likely-hood of success. If tomorrow, the fourth day in this pattern, VLNC rises to new highs, a reversal of trend will be confirmed. Since Monday's high was 9.9375, we need to get towards 10 tomorrow (Thursday). I doubt that that will happen, but if it does on volume, I'll be pleased indeed. I don't usually watch things so closely, day-to-day, in my chart work. All I know is that from a longer term perspective VLNC has one of the most promising longer term charts going. It based for a year, then took a classic what I call a "check pattern." Like drawing a check mark, down after a year of basing, then up sharply, breaking through the base. It also put in a "W" bottom at the check's low. It has blasted through to nearly a five year high a few days ago, peaking at 11.3125. It's nice to see that our Candlestick TA is providing entertainment for some. It can be fun. Let's see what tomorrow brings. Nothing will be wrong if it doesn't go up, IMO. Bill.