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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (34001)10/25/2000 9:56:39 AM
From: donald sew  Read Replies (1) of 42787
 
Paul,

>>>> COMPX may be back at its Sept. downtrend line here (~3300 <<<<

I would feel more comfortable that the 3300 region will hold if my short-term technicals were in the oversold region or at least in the lower midrange. As mentioned often midrange readings are flip-of-the-coin; however I have noticed that in a strong bull trend it is common to reverse in the midrange, but in a trading range it is more common that my short-term technicals get to the oversold region. In a downtrend, the probability of getting CLASS BUY signals before reversing upwards increases significantly.

So lets call it a trading range for this discussion - if that is the case and not the beginning of a major bull run, then the probability is in favor that my short-term technicals get lower than just a midrange reading.
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