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

To: bruce-l who wrote (30039)	6/2/1999 10:11:00 PM
From: bdog	Respond to of 79230

bruce, then throw in an IHS on the 3RSI and whamo. Of course there is the jailbreak and that IS VooDoo... flags at half mast... bdog

To: bruce-l who wrote (30039)	6/3/1999 3:00:00 AM
From: Doug R	Respond to of 79230

Bruce, "Regarding flags, what type of a retracement off the pole high would you feel nullifies the formation, >50%?" Acceptable pullback from a flag high is actually a function of several variables. The float size is probably the variable that should be considered first. In tandem with float size, volume on any short term pattern breakout within the flag would be important. A smaller float would allow for tolerance of a greater pullback. The potential gain from a breakout of a short term intra-flag pattern would hinge on volume and low-to-high target lines established within the flag if it is a relatively long flag or previous to the flag if it is a relatively short flag. Every case will have its own idiosyncrasies. Some stocks will have developed a history of flag activity while others will have developed a history of volume activity. In other words, draw a ton of lines and match the technical strength to a target line that volume would obviate. If I'm getting ahead of you here, feed me a couple examples and I'll see if I can use them to better illustrate. As far as flagpoles and the trick...that's exactly what the trick is designed for. You can't get in at the base of every flagpole but once you see a "good" one (the paste is an indication that the flagpole is more likely to be a "good" one), the trick can get you in on the continuation after the profit taking/accumulation during the flag leads to the next leg up. And since you asked...and you're doing it anyway...it would be a huge contribution if you posted the trick candidates each Friday. I realize it's more work than just a scan since the signal involves manual tracking after the scan that hits the paste but if you are able to do it...sure...please do. Doug R