I actually went into my 'fancy' Big Easy Charting Software and followed the trades from 9/27/2000 to 10/17/2000 as you suggested. So, now I understand this 'ledge' that you are referring to that

>Joe Ross called a "ledge," a tight sideways >trading range.

And I also understand:

>The best way to trade a ledge is as follows: If >the price pops out of the ledge on the downside, >and then retreats back into the ledge and pops >out on the upside, it's a buy signal. If, as is >the case with Nortel, the price pops out of the >ledge on the upside (October 20),then retreats >back into the ledge and pops out on the downside >(October 24), it's a sell signal.

So, I now know a little bit more about how to read charts, but it's all based on historical data!! I know, I know, if we could forecast a stock's future movement, even a week in advance, we'd all be rich.:-)

In any event, I'll use the info. to help me better understand charts but keep on using my old fashioned methods (instinct and knowledge of the stock's trading patterns) to determine when to buy and sell.

Thanks again.

Eliz.