Replies to post #113222 on Zeev's Turnips Patch-No Politics (ZEEV)

[Paul Shread]

>>But this possibility is rapidly retreating as more and more stocks are getting into very strong individual patterns.<<

Except they keep selling the Dow leaders. Paul Desmond at Lowry's is looking for a 10-12% correction in the Dow here because of its failure to confirm the other indexes. (BTW, his 90% downside/upside volume theory flagged March as a significant bottom. Wish I'd listened to him. -ng)

Paul

[Public Heel]

But this possibility is rapidly retreating as more and more stocks are getting into very strong individual patterns.


Isn't that what the BP's are all about? Supposedly, high percentages of bullish charts are strong contrary indicators. I'm beginning to wonder, though, as the BPCOMPQ soars into record territory, if the BP's have any predictive value at all.

[Fletch]

<<<< But this possibility is rapidly retreating as more and more stocks are getting into very strong individual patterns.
Zeev >>>>

Zeev,
I couldn't agree more on some of the charts being bullish. I'm always looking at charts for patterns and entries on swing plays. One I made on ICN as a SARS play, has turned out good so far but I sold half too soon. In this case, I should have looked longer term instead of my usual 3 to 6 month time frame, before selling.
Fletch