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To: Gary Price who wrote (16428)	1/8/2001 2:27:20 PM
From: h8_2_b_l8	Read Replies (1) of 19297

Read through some of Jeff's posts if you missed them. Parabolic SAR The Parabolic Time/Price System developed by Welles Wilder, is used to set price stops and it is usually referred to as the stop-and-reversal (SAR) indicator. "The system is designed to allow more leeway or tolerance for contratrend price fluctuation early in a new trade, then to progressively tighten a protective trailing stop order as the trend matures. To accomplish this, it employs a series of progressively shorter, exponentially smoothed moving averages each period that price moves to a new extreme in the expected trend direction." (Robert W. Colby and Thomas A. Meyers, The Encyclopedia of Technical Market Indicators [New York: Irwin, 1988], 379.) Some technical analysts believe that the Parabolic SAR provides excellent exit points. They use this indicator to close long positions when the price falls below the SAR and close short positions when the price rises above the SAR. This concept is explained thoroughly in Wilder's book, New Concepts in Technical Trading Systems (Trend Research, 1978).

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