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

To: wittder who wrote (27626)	3/24/1999 10:52:00 AM
From: Doug R	Respond to of 79227

Wittder, " look for some confirmation Is my understanding of this is correct" Since what we're trying to do here is catch a move before it happens, always (well almost always) look for some confirmation. Often you'll see it in volume and an uptick with bid/ask size staying positive or working to positive on the uptick. Some signals are very strong and backed up by a very strong chart (such as was seen in SOF as it broke out over 20) and you might be comfortable taking a position before verification. Of course doing so would be entirely up to the individual. As for GFI, the chart and recent activity is typical of many I have seen that work down to 1 and rebound sharply from there. I'd expect to see it closer to 1 in the next week or so. I'll try to keep an eye on it. Doug R