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Strategies & Market Trends : Stochastics

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To: JK who wrote (126)	2/11/1998 1:31:00 PM
From: Wayners	Read Replies (1) of 927

On SCTC, I tried to pick a top (against my rules) when the 5 day stochastic was over 80. I didn't wait to see the "hook". The result was I shorted way too early and SCTC started trending. I should have waited for the breakdown in the stochastics first. I would have shorted at a much higher price. No biggie. I'm at least not going to lose money on the play. If the SCTC uptrend is still intact when the 5 day stochastics gets real low, I will simply cover. If SCTC goes into a neutral trend I'll cover at the lower bollinger band at about $40 and if the trend goes downward, I'll wait for a reversal in 5 day stochastics before covering. In the meantime I'm using buy to cover stop limit order above the high for the day just in case.

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