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Strategies & Market Trends : The Market Beacons

SPY 682.06

+0.3%

Oct 31 5:00 PM EST

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To: Woody who wrote (1228)	12/27/2005 4:35:11 PM
From: Magnatizer	Read Replies (1) of 1298

Woody, They are areas of attraction. As with any area of attraction some have more pulling power than others. Once the area is reached a security is likely to spend some time there "checking out the sites" so to speak. The attraction of the strongest magnets can pull a security up or down. In golfer speak they are the Pebble Beach of the magnet world (everyone needs to go there at least once). A regular magnet is like the best course in your area (you might have to wait your turn but when you've a chance to play you will certainly do so) and weak magnets are your everyday track (old reliable but the "awe" factor is diminished). If a magnet is left untested (gap over/under) it nearly always gains in strength. Imagine the horror of the golfer who passed an opportunity to play a great track only to hear again and again what they missed. Mag trendline crosses are special. Metastock did have some issues with trendline movement (creating different dates for crosses) which is why I went to the spreadsheet for the indexes. It is hard to explain why the crosses do what they do but they do do what they do very well. (read that a few times as I am not certain it makes perfect sense, I have a bit of a cold). What they do is create specific dates for turns. Gosh, it has been some time since I've magged a chart. I don't even get data anymore as the online charts are so much better then they used to be. Last week I dug out my mlr/bb stuff per my reply to your email the other day. The results were all over the map. Though many backtests were absolute homeruns, the consistency just did not do it for me.

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