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This entry is described on the IBM chart on page 19 of HTMMIS. http://education.investors.com/Article/583991/201109071439/U-Turn-Beats-Staying-On-Wrong-Side-Of-Trade.htm?Ntt=Must-buy-it-back
We seemed to be getting quite a bit of the retest the pivot atleast once and sometimes two times before they go more recently.
I don't know if I would use that rule for a stock that doesn't have all the Can Slim characteristics.
Hi Abe great catch and thanxs for pointing out, the only difference I see is that WON's ex is shown on a weekly IBM chart and yours is a daily. Any thoughts ?
Any comment Abe on my past remark ? Regards, Brian
At the moment I just see a breakout failure, shakeout and a possible test of the 50ma. Would need to stabilize and prove itself before we go in.
Brian, that's a big question. For a fund that can support a lot of trade then I think the weekly chart action weighs more heavily. If you are trading less than $5 million, then you are at the mercy of the larger funds unless you have a good eye on the daily chart as well. In either case I think you'd want to have a good sense of both the weekly and daily.
ATLS closed today above 34, up from 25 in January. I guess when Bill says, "you must buy it back" on page 19 of HTMMIS, he isn't kidding.
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