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Strategies & Market Trends : today's chart

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To: Richard Estes who wrote (260)8/5/1997 8:39:00 AM
From: Bill Sandusky   of 1267
 
"I think the volume chart on left throws people off, they see a chart going straight up and don't see the correction on the right. Bringing forth questions on CCI and etc."

Richard... you have a point. Been trying to show importance of looking at multiple time periods and counter-trend trades. Chart on the left is generally a longer-term view while chart on right is normally a very short-term view. I like to get an overview of what's going on in a stock by first looking at weekly and sometimes monthly charts encompassing at least 2-3 years data. Trading decisions are generally based on the next lower time period. Frequently use hourly charts but often use volume bar charts for intra-day and short-term trading decisions.

In summary, make sure you note the time period being used on a particular chart when reviewing the analysis. Realize many of you don't have access to hourly and/or intra-day data but these charts are useful in discussing my use of indicators.

Thanks again, Richard,

Bill
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