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Strategies & Market Trends : Technical Analysis- Indicators & Systems

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To: Richard Estes who wrote (2284)	7/31/1997 10:16:00 PM
From: TechTrader42	of 3325

You make a good point. Once you've got a stock that's moving steadily up, though, can't DNS help pinpoint the top if you wait for it to fall to below 4 or 3? I can see on the charts how well DNS works, once you get past the less volatile periods where you can get whipsawed. In breakouts, DNS does a good job in finding the tops and bottoms. So my question is, can't I just wait for DNS to fall to a certain level, based on my reading of the chart? All the good longer-term systems seem to do a good job in pinpointing tops (DNNS included) once you've got a clear breakout. Is having a target in mind really necessary? (I seem to be arguing that it's not, but that's not my intention -- I'm just presenting a viewpoint based on my own limited experience, my own ignorance, and I'm presenting it to you in hopes that you can show me where I'm wrong. I've heard so many times that one has to have a target in mind, but I seem to have this ineradicable faith that DNS or DNNS or BNS or the USMC will get me out in time. Am I hopelessly deluded?)

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