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That was a gorgeous cup and handle which sucked me in and then blew me
out. Fortunately, I am religious about using stops, especially with the
bear out sniffing around so aggressively. What has been notable for me
has been the vast number of cup and handle bottoms in stocks which got
taken out and shot in the last decline. When reliable patterns start
breaking down, it is time to batten down the hatches.
Offsetting the broken cup and handle in the spoo is the progressive cup
and handle in the bond - see attached 60 minute chart.
Earl
----- Original Message -----
From: "Gitanshu Buch" <onwingsofeagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Wednesday, November 15, 2000 12:17 PM
Subject: Re: [RT] Market ESZ0
> Meantime, looking only at the top portion of the chart with
indicatoritis,
> 1460 = chip shot.
>
> Me, I believe in simple charts with no indicators. Like the attached.
>
> Nice trade is to buy $1 - $1.50 sticker price calls struck near the
breakout
> zone and short half as much underlying, going into the pattern with 2
days
> to expiration.
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Attachment:
Description: "US60.gif"
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