too many breakout patterns?

    Posted by riskmanagerjeff on 5th of Jan 2010 at 12:00 am

    I probably havent been watching breakout patterns for as long as you guys, but have you ever noticed that when there are TOO many breakouts, they don't do well?  The 2 months of narrow consolidation has created alot of these short term bases.  It's not hard to find a ascending triangle pattern right now.  One with good volume patterns is a bit harder tho.

    I would imagine that supply/demand even works for the number of breakout stocks out there.

    RMJ

    I agree.  Many, many small

    Posted by keithbob on 5th of Jan 2010 at 09:14 am

    I agree.  Many, many small caps are are nearing their breakpoints. I'm excited but its also making me nervous.

    Yes I see that all

    Posted by matt on 5th of Jan 2010 at 12:04 am

    Yes I see that all the time, that's something to take note of, and right now there are a ton of them

    I just looked over the

    Posted by riskmanagerjeff on 5th of Jan 2010 at 12:38 am

    I just looked over the my currency ETF's and the brazilian one is the only one that also has a breakout formation pattern.  And quite a few of them also have decent patterns.  I think if the currency breaks out, and the chart of the stocks, you might get a stronger move.  just a thought as I look over my charts tonight.

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