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Ahhh yes.
This works great in the right market (like the recent) and on the high RS
stocks, but can be troublesome in choppy markets. Not sure if you meant this
by "new" 60-day high, but it is a lot safer to restrict it to the FIRST new
high (all-time highs are best) in some number of weeks. Otherwise you could
wind up buying the top of a climax run. Ideally the breakout should come on
a huge shot of volume. And the run leading up to the new high should come
from a relatively shallow correction, with dried-up volume, or else it will
likely reverse.
That's just for starters, this is a great topic!
Attaching a chart of INTC with a yellow bar representing an all-time high -
as you can see, the FIRST yellow bar after a correction works the best. Btw
I hope you enjoyed my post the other day about QCOM. It was just plain text,
to boring for some to read I guess.
rgds phil
http://www.patterntrader.com
----- Original Message -----
From: desmond humphrey <hum@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, January 20, 2000 10:55 AM
Subject: [RT] Playing with 60 Day High
> Over the non-eventfull festive period i,e, from 31 Dec'99 to 10 Jan.
> '00, I have playing around with stocks making new 60 day High, where
> today's high is greater than yesterday's high and today's close =
> today's high. So far, I am not disappointed. Within a week's time, 3
> out of 4 stocks accelerated to 30% gain and generally seems to stay
> there.
>
> I know there are many guru's and wannabe guru's on Realtrader land who
> may have an addition view on the 60 day high issue. Generally, I will
> like to hear any and all on this one.
>
> great trading.
>
>
>
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