Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Shaw who wrote (2637)	5/29/2001 7:54:53 PM
From: Davy Crockett	Read Replies (1) of 5144

Hi Shaw, I agree with Cush's description of the ADX, except that I would add that when the ADX is below 20 that may indicate an oscillating market so... {which BTW, I suck at :( } look to oscillating indicators such as stochastics for buy or sell decisions. A strong trend, rising from just below 20 may indicate that a powerful new trend may be developing for longs or shorts. The thing to note about the ADX is that when the ADX turns down (above 20) it is indicating that the prior trend (up or down) is about to change or is weakening (ie Cush's suggestion to use stochastics) In other words the prior trend is weakening. ADX readings above 60 are rare & generally, when above 40 the trend is unsustainable. FWIW edit: looking @ the RIM.to chart I see the following... stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14] ADX is below 20 so I would look to the stochastics for guidance. Stoch's r overbought (sell signal). Very interesting to note that the ADX (before it turned down), was indicating that a powerful move may be developing especially since the +D1 crossed over the -D1 the week of the 14th. I like to confirm the ADX & DM1 signals with my MA's 5 & 21 ema (they are very close to crossing; but than again they r trending indicators) Note the ADX could not sustain the move above 40 @ the begining of April & also check out powerful down trend that gathered steam around Feb 9) Great shorting opporunity! $100 down to $25.00!!!! Seeya Peter

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