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From Yahoo's XING Message Board - October 22, 2007
"Apologies, I was hurrying to calculate that neckline, and used a slope of 0.005 instead of the correct slope of 0.0005, so the neckline comes in today at 10.744."
QXM violated that neckline on both an intraday basis and a closing basis, so there went QXM's "Perfect 10" rating, or so I thought. LOL.
In yesterday's session, QXM opened at 10.97, raced to 11.80, came back and planted a foot at 10.75, NAILING the successful retest exactly (within less than a penny), then soared 15% higher, to 12.36, and closed at 12.34.
Monday's trading below the neckline obviously was a BEAR TRAP, and just because I'm a little bit sore that I "got played" by that fakeout, it would be very unfair of me to give QXM any deductions when it did such an excellent job of setting that Bear Trap, and then immediately exposing the deception yesterday with the "bang on" successful retest of the neckline of the Bullish Inverse H&S pattern.
As much as I hate those danged Bear Traps (and Bull Traps)...CURSES!...
Scores for Technical Merit:
10...10...10...10...10...10...10
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