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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad
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To: Cush who wrote (2261)4/24/2001 9:58:32 PM
From: Davy Crockett  Read Replies (2) of 5144
 
Hey Cush,

Interesting comments! When ADX signals a strong trend, it's not always an uptrend
In fact, lately, it's hardly ever an uptrend Especially regarding the sell signal u highlighted that was confirmed by the CMF (that was + - a few cents, $18.00 ago!!!!)

If I were to play this chart, from the long side, I would probably wait until the ADX turned down from the 58 level, (possibly indicating that the prior trend (down in this case) , is losing strength. The ADX rarely stays at this level for a sustained period of time.

P.S. I might play this one purely on the Buckey Bottom Bounce phenomenon. (dead cat bounce)

BTW, where is Buckey when ya need him... every where I look there is complete & utter devastation. Talk about a nuclear winter. Yikes!!!!

Regards,
Peter
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