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Strategies & Market Trends : Position Trading Forum
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To: drdan who wrote (5057)11/3/1998 8:55:00 PM
From: wily   of 7247
 
drdan

I always qualify my TA remarks with a disclaimer because I'm not 1) very experienced or 2)very accomplished. Also, a lot of my method is seat-of-the-pants, intuition, and punting. IMO charts are the bigger part of TA: they condense a lot of information into a graphic. So, simply creating a chart is TA. I don't know if there is any way to tell the difference between a downtrend and a pull-back just by TA. My strategy is to decide whether you're in a bull or a bear market and whether the stock has reached its potential based on fundamentals and relative strength. If I think the stock and the market still have upside then I treat any downward movement as a pullback. In the case of XYLN, I see it has support at 15 1/8. If I see it breaching that level I probably have to bail.

Also, a lot of TA seems to me like voodoo, as noted in a recent post on this thread, and you can't just jump into it and think you know something--it takes a lot of time, experience and absorption. The things you learn to see aren't the things you expected to learn. I just started looking at candlesticks the other day and I like them because they are simple, common sense, and they mesh with some things I had noticed before.

There's a guy named Larry Dudash on the Micron thread who is heavy into TA and seems quite good. I think you could learn some good things following him. He sends out free email ideas and alerts concerning MU and DELL. Look him up and PM him to get on his mailing list.

wily
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