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dbphoenix stated "Just remember that the smart money buys the breakout off the first base, the not-so-smart (or dumb) money buys the breakout off the second base, the even-less-smart (or dumber) money buys the breakout off the third base, and the truly clueless buy the breakout off the fourth base..."

I am confused. I bought BBRC at 68 5/16 on Friday. After reading the above post, I looked at its 2 year chart to see how many bases its formed in that time period.

My eyes see the first breakout mid - 5/99 running until mid - 7/99. The second base formed 7/99 until a breakout at the beginning of 12/99. We appear to now be in the third base (with a possible breakout last Friday). Is this analysis correct? Does this mean the buyers at this point are the dumber money?

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