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

To: belker who wrote (138)	1/16/1999 5:53:00 PM
From: sean sanders	Respond to of 967

Bob, Well Bob that's the 'fun' thing about investing trying to time the market ... and it seems quite a challenge to sell at the top instead of too soon or too late. The thing is it's hard to decide what is a real market sell-off (bear start and just what is a normal correction). It seems to me that the news channels ie ... CNBC CNN etc ... seem to dramatize things to a great degree. If the market goes down 2 100 point days in a row; CNBC will have expert so and so all talking about bear markets and selling his funds or whatever. I think it's a good idea to take what 'the experts' say with a grain of salt and stick to what you yourself know and can learn. I mean look at it this way; hopefully you made a profit with some of the stocks you sold and now you have an opportunity to buy others or the same ones if you choose; and now you have a little more knowledge and experience to boot. Well I do remember last october when we had the dbl bottom in the dow what some of the other stocks looked like. I still have my watch list and remember quite a few dbl bottoms in it. Last week when I went scanning for chart formations as you may recall I found many sym. triangles and, potential dbl tops (ones that were at the tip of the second peak (so they may or may not be a dbl top). so I'm really not sure what that is indicating in the market. But at least we have lots of charts to still pick from. Well that's my take on things ... Sean

To: belker who wrote (138)	1/16/1999 6:01:00 PM
From: sean sanders	Respond to of 967

Bob, Speaking of potential dbl tops ... here is one I would put on that list. ANET So far I'm not sure if I would like investing in a dbl top just as it crosses the second peak (as compared to crossing the neckline). I think that perhaps it would be possiable to play larger sized triangles as compared to the medium or smaller sized ones that I have been finding this way. I'm still testing the idea out. Sean

To: belker who wrote (138)	1/16/1999 6:12:00 PM
From: sean sanders	Respond to of 967

Bob, In response to your RSI, MACD and trader vic T.A. ... To start off with I'm not even sure what the trading rules are of the 'trader vic way'. Also I tend to ignore many of the candle formations in the DOW I just didn't see much most of the time. I havn't come up with some solid good rules to combine indicators with non-indicators (trend-lines, chart patterns, candles etc ...). So it seems I end up seeing some things when using indicators then see others using non-indicators. Sean

To: belker who wrote (138)	1/19/1999 3:55:00 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

ATEC ascending triangle play: Just to add some more info to the asc triangle play. I didn't raise my stop and I was hoping for a hammer formation on 1/15; what I got instead was a small black candle. So I went through the weekend debating what play I was going to do and I decided to raise my sell stop to 9 3/8 and then check the price when I got home from work (early day today). As of right now the stock is staying close to the MM (measured move) I think I figured it out ~10.50. My plan as of right now is to throw in a sell limit order in at 10 3/4. It's real close to there right now, so I think I may have some luck with it. My observations about this trade revealed to me (or actually reminded me that) many asc triangles compleat their MM and then go from there ... ie 1. stay in the near vacinity for a few days (forming hammers, doji etc...) 2. run right back down to the new support line 3. move slower down to the new support line 4. stay in the near vacinity for a few days and then keep moving up. 5. I can't really recall many triangles just flying through the measured move and beyond quickly I feel these rules may be different for sym triangles; because I can recall many sym triangles preceding huge rises in prices. I think the better way to have played this trade would have been to have set a sell limit at a predetermined amount close to the MM. ie if the measured move was 10 1/2 then place the sell limit at say 10 1/2 or 10 3/8 depends on how risky one cares to be or confident. I was lucky with this one being that it stayed near the MM for more then a day. I remember playing one asc triangle and it went up then straight back down took like 4 days to compleat the process (2 days up, 2 days down). any comments? or suggestions on how I should have played this better? Sean p.s. ATEC is at 10 13/16 ask ... sometimes I hate real-time, makes me more greedy for that 1/8 of a point more. Sometimes it's easier to throw a limit sell in - a place and forget order persay