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Strategies & Market Trends : TA- Scans and System Tests

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To: Richard Estes who wrote (675)6/13/1997 3:20:00 AM
From: orf   of 989
 
Richard,

Let's take this a little further. I am doing the same thing you are with TC2000. My question is what indicators are you looking at because almost everything I look at is overbought? That leaves me looking at the formations with the horizontal consolidation and a slight break above the resistance being the ones that I then take to MSWIN or put on a watch list to keep an eye on. Is this what you do? I seem to get beat up bottom feeding, and I would prefer to be longer term buyer therefore the new highs make better sense to me for the long haul. So do you wait for a new high and use what was the resistance as your mental stop which should now be the support, and how high above the resistance would you buy if that's the way you do it? One last thing what level of volume is acceptable for you to feel safe to trade the stock?

Thanks,

Dale
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