Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: jair who wrote (7542)	1/15/2001 1:26:06 PM
From: Jibacoa	Read Replies (1) of 13094

<< My question is, would charting point out stocks that will do good in a market downturn.>> When the stock closes below an important "support level" it usually will go substantially lower. Of course if it has a PE above a 100 or negative earnings your bet on the short side or buying puts will have a very good chance of success. There are some "patterns" such as the so called "head & shoulders" which also have some value in pointing towards a down course. I personally depend more on the "averages". I follow three averages, short,intermediate and long. Whenever the price drops below the short average you get a warning signal. If the short average drops below the intermediate one you should consider taking profits. For a stock to be on an UPTREND the short average should be on top, the intermediate in the middle and the long average below. And of course you should remember Jesse's maxims, especially the one that says: It doesn't pay a man to be wrong. In order to be right you have to stop being wrong. As far as your question on INVN. It gave a buy signal on Jan.4 at 11AM when the price went over the short term average and the 3 averages were on the "right sequence" on the 60 minutes chart. On Friday it was able to close above the Hs of Jan.9,10 & 11. On the daily chart the stock is not yet on an UPTREND since the long term average is still above the other two. The next resistance appears to be in the 2 1/2 to 2 15/16 area. It has to close above the Nov.1 H of 3 3/16 to completely break the down trend coming from the H on March 31/2000 at 9 3/8. I hope this will be of some help. Bernard

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