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Strategies & Market Trends : Technical Analysis - Beginners
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To: big run who wrote (10609)6/8/1999 2:14:00 AM
From: Richard Estes  Read Replies (2) of 12039
 
Not really. I can't say anything is wrong to seek the strongest groups and stock, the logic is there. But IBD provides this info far more effectively then S&P. A ranking method like IBD's would be the way to go.

in the short term, I would want to trade the most volatile stocks moving over extended ranges. It wouldn't make much difference what industry they are in.

If I did use it more and didn't have access to IBD, I would put a 21 day TS MA on the ratio to capture a 2 month cycle in MSWIN. It would smooth out the whipsaws. QP2 allows a full range of group study with S&P and IRL. I would depend on rankings for the narrowing down process. This could be accomplished in MSWIN or QP2.

In reality, I don't know what 80% of the stocks I trade do for a living, I do know what their charts look like and if they are trending or ranging. And where support and resistance stands.

Having said that, O'Neil lays out a very effective way of selecting stocks if you feel funnymentals play a role.
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