4 replies to this topic

[hiker]

bullish triangle breakout on 3/12 -

http://stockcharts.c...llery.html?siga

what SC says about triangle pattern alerts -

Triangles are formed when both the supply and demand for the stock are drying up. Prices are unable to rise but neither are they able to fall, there is an equilibrium between the buying and selling as is seen by the rising bottoms and the falling tops that form the triangle. This stalemate between buyers and sellers is finally resolved by a double top breakout in the case of a bullish triangle breakout, or by a double bottom breakdown in the case of a bearish triangle breakdown. This is one of the most reliable patterns out of all the patterns recognized by the system.

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btw, I have a kept a 3-year record of the triangle breakouts noted at the time at SC....reliability is iffy by my count, but some of the winners have been big....if time permits will post some of the data results later

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SIGA....so far, dip buying this name has been profitable

higher lows continue to control the weekly chart pattern, but higher highs are yet to manifest

Edited by hiker, 16 March 2007 - 06:48 AM.

[PorkLoin]

btw, I have a kept a 3-year record of the triangle breakouts noted at the time at SC....reliability is iffy by my count, but some of the winners have been big....if time permits will post some of the data results later

Hiker, that'd be great -- I'm very interested. I think that one can fine-tune things some by looking at the volume of the subdivisions of the triangle, and by keeping an eye on other indicators, but I too think that triangle breakouts are one of the highest-percentage plays in general.


Doug

[PorkLoin]

Quite the chart of extremes. That was a mighty leap up last October. Huge volume that day and on the big up day in December. For the market to take some time, go sideways and digest things isn't a surprise after that.

I might question the exact nature of the triangle and whether it's done or not -- is it as above, or below? Either way, sure looks like a continuation pattern in the uptrend to me. Ought to be good for at least $2 or $3 in pretty short order afterwards. In my opinion, in such situations patience is indeed a virtue.

Doug

[hiker]

hi Doug - appreciate your comments.

btw, I am still long this one since posted months ago here, but a weekly close below $19-20 zone looks to be the risk to manage for now....high short interest is what initially attracted me to SUP, and Guy Adami's mention of it in some of the first Fast Money shows -

http://stockcharts.c...allery.html?sup

PnF chart reveals that demand remains in control for now...

Edited by hiker, 16 March 2007 - 07:29 AM.

[hiker]

7 - year high in play in today's premkt on news today....see last post in this thread for news links -

http://forums.techni...83#post16676483

or here -

http://biz.yahoo.com...05632.html?.v=1

cheers, and have a good week all...I intend to be invisible this week ....many trades to continue scaling process...