Technical Analysis a la Edwards and Magee Message Board

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Non-Tech : Technical Analysis a la Edwards and Magee

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To: Jim Roof who wrote (8)	3/20/1998 12:34:00 AM
From: Larry McColloch	Read Replies (1) of 40

Bill Wixler would hate this thread. Fundamentals only is his belief, but he seems to have made better market choices than I recently. I looked at BVSN. I thought I saw big up moves on big volume and the dropping on low volume and thought that it might be a buy. I looked at market edge TA and it summarizes: COMMENT Moving Average Convergence/Divergence (MACD) indicates a BULLISH TREND Chart pattern indicates a POSSIBLE TREND REVERSAL Relative Strength is BULLISH Up/Down volume pattern indicates that the stock is under DISTRIBUTION The 50 day MOVING AVERAGE is rising which is BULLISH The 200 day MOVING AVERAGE is rising which is BULLISH LOOK FOR SUPPORT AT 15.48 RECOMMENDATION STOCK SHOWS MILDLY DETERIORATING CONDITIONS SCORE = -1 IF YOU ARE LONG HOLD CURRENT POSITION; DO NOT INITIATE NEW POSITION STOCK IS NOT A SHORT SALE CANDIDATE I guess I still need a lot of help looking at the charts. I did buy the book, but I'm only into it a couple of chapters so far. Larry

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