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

To: belker who wrote (155)	2/6/1999 3:53:00 PM
From: sean sanders	Respond to of 967

Bob, It seems when I scan for chart patterns that only about %33 of the ones that I put on a watch list actually move into the formation. Sometimes they don't move that good, but sometimes they do. And when I go searching for patterns I usually come up with about 40 candidates. The nice thing about QP and keeping my scan lists is that I can look though them months later and see how the patterns really turned out. I'll see about coming up with a few stocks that I feel have potential, but like I said my record seems to be about %33 for the ones that I pick out and the ones that actually put out so don't be surprised if most of what I pick out are duds. Feel free to do the same if you see a stock that looks like it's forming a dbl bottom, asc tri, H&S, but it's before the breakout or cross of the neck line throw it on the thread here and we can put it on a watch list then watch it and see how it does and perhaps play it. sound good? oh I actually did mention BMY at the beginning of the week; now I normally wouldn't play this at all at this stage in the game, but I wanted to try out some option plays on some low traded option stocks and get some experience in that route. I mean it looks like it may form a H&S, but too early to see actually, but I figure the stock should at least come back to the horizontal trend line there ~119. So a put should still make a couple of points from it. you asked why I trade lots of low volume stocks, well it seems that the ~80,000 or on bigger days 140,000 volume stocks move quicker and have greater price fluctuations from breakouts (triangles) and they move quicker from dbl tops and H&S (just my opinion). ie ATEC now this stock's avg vol. is a little more then the ~100,000 avg I was talking about earlier, but you will notice the fast price move and the large price gain from the compleation of the triangle. Now of course it goes into the opposite effect too, a failed triangle swinging in the opposite direction can lead to fast losses. But I don't think you will see a DELL move that fast and much in that time period. But DELL has had some nice asc triangles that can be nice to play too. So basically I feel it all comes down to investment style and what a person feels comfortable with. For example, when buying a stock I often use margin, but the amount that I margin changes from stock to stock due to my confidence level with what I think it will do. I wish I felt great about every trade I make, but to tell you the truth I don't think there as a time that I did not think about my money in a particular stock. There's always risk and it's real money so frankly it seems quite natural to be concerned about if one will have the money a week from now. But obviously learning more about the market and protecting yourself relives many worries too. so I started out answering a few of your questions and ended up with a bit of a spiel here. Sean

To: belker who wrote (155)	2/23/1999 5:18:00 PM
From: sean sanders	Respond to of 967

Well Bob, I havn't found any real fantastic charts that spark my interest to throw money at them. But I do have a few in mind that I'm tooling over. What do you think of shorting internet stocks? ie YHOO or SEEK both look like d tris ... YHOO looks more clearly defined. I figure might be a safe play if YHOO drops below the neckline or whatever it's called on a triangle. hmm other then those 2 nothing much out there. you come up with anything Sean

To: belker who wrote (155)	2/24/1999 10:14:00 PM
From: sean sanders	Read Replies (2) \| Respond to of 967

Bob, MNMD - (dbl top) I'm looking for it to go down to the 200 day smov (seeing how that works compared to the emov). That is about the MM anyway to the 200 day. I was thinking 65 for the MM; the 200 day is at 68. So I would expect it to stop there (68). We might have a flag in the next couple of days, but who knows. Also I picked out a few stocks for my watch list; most arn't that great. I'm seeing some decent dbl tops though. Some of the ones that go down slowly arn't bad plays. They may take a month to complete, but ~%35 on a slow moving stock is still ~%35. I'm looking at MICCF as my example here. I could be bold and say that it broke through the neckline there today. I'm looking at MNMD as my first choice for db tops else I might be inclined to play MICCF. I have a feeling that MNMD will move fairly quickly though and one still may have a chance to play MICCF ... say a flag forms. One other thing I don't really feel that great at playing H&S I mean maybe it's me but most of the ones I pick don't do that well making the downward moves that I expect ... ie the stock moves up instead of going down or only goes down like 1/4 of the MM. I'm seeing a large number of H&S patterns in my watch list but I just am not excited about them for the above reasons. But I still want to watch them (T.A.) What do you think about those? Sean