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Sounds like buying a double bottom. Someone have a picture?
Michael
----- Original Message -----
From: "Gwenael Gautier" <ggautier@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, January 28, 2000 09:59
Subject: [RT] Re: STK: more theories
| part of the Ross Hook technique.
|
| Gwenn
|
|
| Phil Lane wrote:
|
| > I'm finding this a bit hard to visualize - I guess it's a little
different
| > thing than I'm used to looking for. Maybe one of you has an example?
| >
| > thick-headedly,
| > phil
| >
| > >
| > > Earl Adamy wrote:
| > >
| > > > Also can be dangerous to buy at new highs ... a conservative
strategy is
| > > > to wait for a major correction followed by a rally which exceeds the
| > > > prior pivot high (higher high) followed by a retracement which fails
to
| > > > exceed the prior pivot low (higher low) followed by a break above
the
| > > > previous pivot high with a stop at the previous pivot low. This
provides
| > > > a nice combination of buying near the lows while forcing the rally
to
| > > > prove itself against controlled risk.
| > > >
| > > > Earl
| > > >
| > > > ----- Original Message -----
| > > > From: "Phil Lane" <patterntrader@xxxxxxxxxx>
| > > > To: <realtraders@xxxxxxxxxxxxxxx>
| > > > Sent: Friday, January 28, 2000 7:13 AM
| > > > Subject: [RT] STK: more theories
| > > >
| > > > > It's dangerous to buy stocks in a correction, hoping for a great
| > > > price. The
| > > > > safest thing is to wait for a new high, i.e. let the stock prove
| > > > itself.
| > > > > That way you won't get stuck in a situation like this one -
| > > > >
| > > > > rgds phil
| > > > > http://www.patterntrader.com
| > > > >
| > >
| > >
| > >
| > >
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