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Strategies & Market Trends : Trading From Main Street.

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To: Brandon who wrote (147)	6/5/2001 6:24:11 PM
From: Brandon	of 226

Here is a great example of the RSI setup in action. Biotechs have been the strongest sector on the board and in nice uptrends. Around Mid-day CIMA flashed oversold on the 3 period RSI alerting that we should get ready for a setup to possibly occur. When CIMA traded above 81.24 the buy was triggered and stops placed under 80.76. After some period of chopping around sideways, near the end of the day CIMA exploding, ending up giving us a nice profit by selling on the 15:10 bar. The 15:10 bar is a good example of what we call an "exhaustion" bar. It occurs when a bar has a wide range and high volume/pace. This is how we see euphoria and capitulation by retail traders on the charts. Chart is @ swingtrader.net Brandon

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