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In most of the bullish patterns a reversal was in process..... then after the
bell someone would come out w/ bad news that would pull the whole sector down...
happened to me 3 times.. THe 1st time was MU .. it was bouncing off an AB=CD
bullish pattern and then Intc comes out and warns about upcoming earnings..
Down goes the whole chip sector and I lost 2K.
Then HWP was completing a bullish pattern.. may have been another AB=CD...
a day or so later Dell preannounces after the bell and down go all the box
makers..
I mapped out a lot of bullish gartleys and butterflys... but started becoming
more apprehensive about playing them... and most if not all eventually bombed
out...
and it's not just me, as I said previously... scott carney's been sending me
stuff... and I just watch as they just go lower and lower... and hit his
stops...
So, I think it depends greatly on the over all tone of the markets... if the
markets are in the dog house.. stay away from the bullish setups cause most just
don't seem to work.
I'll take a look at cohr.
Jack
David J wrote:
> Jack
>
> I am surprised to hear you are seeing enough breakdowns to consider the
> patterns of low quality. I am at the opposite end of the spectrum.
>
> COHR is a recent fine example. It is a butterfly bottom and really did well
> today.
>
> Were you entering the position when the stock hit the zone or did you
> waiting for bar pattern confirmation?
>
> I am going to be on the road for a few weeks so if you reply and I do not
> return it please understand.
>
> ht
> Mag
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