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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Robert Graham who wrote (7205)3/21/1998 9:49:00 PM
From: Chris   of 42787
 
a note on the tech rally:

if you look at the tech sector (let's look at the SOX index chart)

quote.yahoo.com

you notice that there was the big rally from early jan 1998 to late feb 1998.. that was the time to get in and trade the techs.. as i roamed across the SI threads, i noticed that many people (who missed the tech rally) wanted to buy techs/add more position after the feb 1998.. they were waiting for the pullback (which came) and expected another tech surge. if you note, in the month of march 1998, there was a brief uprally and then it died. (precise date would be 3/10/98 to 3/17/98)..

it was at the time, that a check on the weekly chart that would tell you that a cautious approach should be applied. it should also be noted that the SOX 50 day ema was failed to be broken on the 2nd tech rally attempt.

what im trying to say is this:
1) timing is crucial. sometimes, you cannot wait for the 2nd rally (which may never come)
2) but do know when it's TOO LATE to enter. that is key - knowing when the BUY WINDOW is still open or closed.

i think #1 is very important. you must keep looking for the CHANGE IN TREND. and you will be the sole person going against the mkt.. sole person going against the crowd.. but you stick to your charts and carry through. that is why TA is so objective (IMO). you can listen to XYZ all you want, but a brief look at the chart will tell you whether XYZ's statemetns are valid or not.
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