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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (14262)	5/24/1999 11:09:00 PM
From: keith massey	Read Replies (3) \| Respond to of 62347

Matey Dr. Elder is a good beginning but I would suggest Murphy or Pring and read all the material on hardrightedge.com as a good follow-up to the book. Not sure how to read your post. I see a major support $9.50 but am not sure about what rectangle you are taking about because I don't see any standard patterns forming other than two channels, one sideways and one downtrending. There is a great trendline starting in July that is touched three times (7/15/98..3-7/22/99..5/7/99). It was no fluke that the run got stopped cold at $11.75 on 5/7/99...if you draw the trendline you will see that is where the run should have stopped. This is one of the main reason I didn't play it last month on the run...when the breakout was stopped cold at this line I took it off the ticker right away. I guess in hindsight I should have shorted. You will also see two other trendlines starting in July to the last two big peaks and how the stock always pulled back when the line was tested for the second time. Now if you believe in "speed resistance lines" this is a perfect example of the third line. equis.com According to this theory if this third line is broken the stock should fly. The third trendline as it stands predicts the stock should bounce off $11. I still think this is a good short but if it breaks this line on volume and fills the gap it is a very bullish sign. You could argue that this is the bottom head being formed and that a right shoulder will probably be formed on low volume this summer if nothing else happens. Best Regards KEITH