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Strategies & Market Trends : Set the Controls For The Heart of the SUN
IQ 1.915-0.5%10:35 AM EST
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To: Rick Pereira who wrote (9)3/30/1997 6:04:00 PM
From: Duane Davis   of 1156
 
Rick -

The software that's sold through Futures Learning Center for the Omega products will work fine for SuperCharts. There are several versions so be sure that you tell them that you're interested in the SuperCharts version.

General Motors just completed a Countdown 13 on Wednesday. An entry technique that Tom DeMark explains in his new book is to enter on the next day that closes above its open and also above the previous day's close. GM's action on Thursday met that criteria. Remember, Sequential helps to identify a low risk buy or sell zone. Pulling the trigger on the trade is another matter. Take for example if Sequential identifies a low risk buy zone on a stock and the stock continues lower, closing below previous closes and/or the open each day. After several days of this the low risk buy zone would be nullified. In Tom's next book he describes a possible stop as the range of the most volatile bar of the Countdown period. Looking at the chart of GM, Wednesday's action looks like a good candidate, 1 1/2 points. By subtracting 1 1/2 points from the Thursday low would give a point where the trade might be called off if the downside action had continued. When Sequential is wrong and a market continues lower, this method allows you to know when the low risk buy zone is no longer qualified. Thursday's price action met the qualifications that Tom describes in his new book and if a position were established in GM, this 1 1/2 point stop could apply.

Duane Davis
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