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Strategies & Market Trends : Technical Analysis - Beginners

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To: Christopher who wrote (10580)	6/7/1999 12:44:00 PM
From: Michael Watkins	of 12039

Thanks for the clarification - what I expected but the detail is important. For those with your same time horizon, your approach might make a lot of sense (might, in that I've not back tested that theory). For a short term trader ( measured in days ) the effort is probably not rewarded (note I haven't tested that out either). Subjectively, if I have a number of promising hits from my scans, I will tend to lean towards trading the stocks in sectors that have been exhibiting recent strength. I would not discount however a stock that exhibits strong technical strength when the sector looks weaker. For the record, MACD and Dahl are my trend indicators; CCI and StochRSI are always in front of me; Time Series Forecast MA's of price in different time frames I use for exits in systems tests and real life; weighted MA's are plotted on all price charts to add some extra depth to support and resistance trend lines drawn manually. I hold few stocks longer term; most of my trading is 2-4 days or a fixed profit percentage and then exit (or re-evaluate). One of these days I will get around to adding Elliott Waves to my tool box.

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