great chart, page-17

re: great chart - dbl top (seals) "Subject re: great chart
Posted by seals

Hi Tibbs.

where are you drawing your tops from? a double top usually takes a while to form. are you looking back to 2001/02?"

I have seen this debated before but fail to agree with your view! A double top can form quickly but needs anumber of things:

1] Significant uptrend [which TOX had]
2] First Peak: marking the highest point of the current trend. [TOX = 11.5c]
3] Trough: After the first peak, a decline takes place typically ranges from 10 to 20% [TOX 20%]
4] Second Peak: The advance off the lows usually occurs with low volume and meets resistance from the previous high. The time period between peaks can vary from a few weeks to many months, with the norm being 1-3 months. [TOX - 1 month]
5] Decline from Peak:
6] Support Break:
etc

TOX didnt follow points 5 & 6 etc but has broken thu resistance today - great sign.

For more info see:

http://www.stockcharts.com/education/ChartAnalysis/doubleTop.html

cheers