Written April 1, 2002
My friend Larry Pesavento always says, "Trade what you see." Now, Larry sees things the rest of us don't sometimes. That's because he's stared at a lot of charts in his career. But I think I'm getting the gist of what he means. I've been looking though stock charts to see if I could find some potential bargain buys with good chart patterns.
I think I found one, but it's a pattern I've not seen that often. In fact, I think it's a brand new pattern. But it looks great, because it really jumps out at you, and tells you this stock is about to move.
The stock is Cisco, former Internet king, now a peasant. But it has a great looking chart. See for yourself.
See what I mean. That punter pattern is about to kick prices right out of the old ballpark. Thank you, Larry.
p.s. check the date on this page