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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Alan Smithee who wrote (3539)12/22/1999 4:45:00 PM
From: james ball  Read Replies (1) of 9427
 
There was a post that the stock was being taken over by peoplesoft so be sure to look into that. As far as momentum goes it really has nothing to do with the chart. It is like a MACD. We use 1 week and 5 week moving averages that are weighted and smoothed. We then look for the 1 week to cross the 5 week. When the 1 is above the 5 it is positive and when it is below it is negative. Typically the momentum will be positive or negative for 6 to 8 weeks and is an indication of strength or weakness in the stock. It does not correlate to an index or other sector calc. We use it as an additional tool to help time trades. It is not something we would use by itself. Often if there is a stock that is controlled by demand in a strong uptrend and the weekly momentum turns negative then we would look for a pullback before initiating a position. If I see a stock that has pulled back to support and the momentum has JUST turned negative I will consider holding off buying to make sure the stock can hold the support. jay
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