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yahooo...buy techs on break out...it's 99' again
yeahaa
--- davetrends <davetrends@xxxxxxx> wrote:
>
> From October 14 to the afternoon of October 24, the
> Nasdaq Average
> declined 125 points. The "Nasdaq Count" at that
> point was 8/-125(-
> 6%). In the last two hours of October 24, the
> Nasdaq rose 25 points
> into close, forming a "slam", and finishing off a
> "cup" pattern for
> the day. This was a major buy pattern as announced
> that same night
> by Davetrends of the New Breed Group. He wasn't
> kidding.
>
> From the close on the 24th, after many traders had
> bought large
> positions of 3-Beta tech stocks (before the close),
> the Nasdaq rose
> 150 points out of that cup pattern in the next ten
> days. The Nasdaq
> Count at that point was 10/+150(+8%), and is now
> only a little less.
> And many of those tech stocks rose much more than
> 8%.
>
> The current high Nasdaq Count indicates that it is
> time to take gains
> on those volatile tech stocks, and tuck them away
> where they cannot
> be given back. It also indicates that the market
> will not rise much
> more before it corrects, at which point patient
> traders will again
> enter the market at the next entry pattern, having
> lost nothing in
> the correction.
>
> This is one of the highest forms of trading,
> reacting to what the
> market does, taking what it offers, not predicting
> it. It cannot be
> predicted, short-term, medium-term or long-term.
> Trading based on
> movement of the general market, not individual
> stocks, is discussed
> continuously at the New Breed of Stock Trader site,
> http://members.aol.com/davetrends. You're invited.
> If you have any
> real experience at stock trading, or not, you won't
> be disappointed.
>
>
>
>
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