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Strategies & Market Trends : Tom Demark Indicators
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To: Tom Trader who wrote (80)4/16/1997 9:04:00 AM
From: Joel Brussell   of 110
 
Hello Tom:

Here is a way I've started using it with some success. Though it is bottom picking, so keep that in mind. Take a decimated NAZ stock.
(There's plenty to choose from) Wait for the commentary to put a seqential nine count on the weeklies. Be sure the bad news has come out on the stock in the form of a specific announcment. Bad earnings, porduct problems or whatever.
Wait for ADX line on daily to start rolling over if its heading up.Buy calls when the stock starts to "act" better than the market. Resist general market declines.
A couple further filters. Wait for decent volume on the upmove.
On many of these stocks the RSI will be well under 20. One can wait for a "bullish" pattern in that RSI region.
Also it seems to help for there to be some failly tight compact range on the weekly or the daily after the debacle. For instance there is a sequential nine count on Informix weekly, but I'm waiting for a week or two of a tight boring range.
See APLX on a weekly
Would like your thinking.
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