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Mike,
thanks a lot for your informative reply! That's an exhaustive definition of FTD. It's interesting to think that if the market continues creeping up without having a valid FTD, most of the strict CANSLIM followers would stay in cash. I presume their take is that the foundation of the rally is shaky and that it's going to fail at some point.
Btw: has this method of detecting rallies ever failed to notice the start of an up leg in the markets?
Thanks,
Max
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