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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: tincup who wrote (27063)	3/6/1999 11:49:00 PM
From: Doug R	Respond to of 79298

tincup, DMED; Well it's about time, huh? Sheesh, it really had a nasty little shake-out there just before it decided to start moving up. There's down trend resistance at 6 3/4 and at 7 5/8. The target for the IHS breakout on Friday is for 7 5/8. That's the distance from the neck line (5 3/8) directly above the low point of the head ( 2 3/4), added to the price of the breakout at 5. This is a target measuring system described in several books. Coupled with a line drawing system I use, the dates to reach the 2 down trend lines would be 3/12 at a price of 7 and 3/29 at a price of 7 5/8. If a large enough position is taken it would make sense to sell 1/2 as it got near 6 3/4 and the other 1/2 near 7 5/8. Doug R