The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: wmwmw who wrote (31266)	7/25/1999 6:11:00 PM
From: Doug R	Read Replies (1) of 79231

Wang, Again, I used the 2nd day over the IL as an example in all those cases. I also try to use the 8, 3, 5 stochastics to show the turn. I've explained more about the IL in the last few days here than at any other time. It's not easily done over this particular medium. First of all, sure, AMZN would have been a hairy short...but proper management was all it needed. The OTHER examples I gave you from stocks you listed didn't present ANY hairiness. Let's say you initiated a short position and it continues higher. If you had any sense, you would have the resources to wait OR add to your position. AMZN went extreme for only a couple days...that's a pretty tight call the IL made on WHEN it would top out. Day 2 short entry at 128. Day 3 add to position at 155. Day 4 over the IL...the top...add at 190. Now your avg is about 157/share and the return to the ACT goes into full swing. I can't walk you through every aspect of the stock market as concerns the IL. Nobody can walk anybody through all the permutations of any strategy. The IL is an extremely useful, consistent and profitable tool. It works. Doug R

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