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Technology Stocks : Protection One ALRM
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To: Instock who wrote (92)3/30/1997 8:40:00 PM
From: Doug R   of 146
 
To: Rick Pereira (9 )
From: Duane Davis
Mar 30 1997 6:04PM EST
Reply #11 of 11
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

Instock, Here's another thing I'm working with. Check into Thomas
DeMark. Very cool stuff.

Doug R
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