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Strategies & Market Trends : Technical Analysis - Beginners

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To: TechTrader42 who wrote (11552)	2/12/2001 2:37:53 PM
From: Michael Watkins	Read Replies (3) of 12039

Brookelise, EMLX was spectacular, as so many have been. Can't see the 10X explosive charge but will believe you that its there. Perhaps you set it? I won't take sides in the FA vs TA debate, but I think a longer term FA-based investor could still benefit from really basic techniques, don't you? The simplest thing I can think of would be to exit EMLX when it re-entered the congestion zone that developed from later October through to January. Healthy stocks that have moved up and stayed up for a while, shouldn't sink right back into prior conjection. Just not healthy. Perhaps not enough greens in EMLX's diet? I can also construct a scenario where some evil trader types might have gone long. Break to the upside of the 2/05 candle might have brought some fresh players in. If it had been me, I'd have closed the position if it broke the low of the 2/05 candle and not looked back. Occasionally one doesn't get a second chance however... but that's why risk management is important. Pass the broccolli!

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