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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: jaytee who wrote (729)	11/2/1997 12:04:00 AM
From: GeneM	Read Replies (2) of 12617

Jaytee: When the 5 day MA crosses the 10 day MA, a trend may be beginning; however, it could be a false breakout. It is verified when both the 5 and 10 day MA's cross a rising 50 day MA. All of this MUST be happening on excessive volume. If you employ an Oscillator [MACD], it should be registering at least a plus 2 at this point. It will not be the absolute bottom, but at least you will have some points on the board before you place your bet. Because you didn't get in at the bottom, cut your expectations some [i.e., instead of seeking to capture 25%, be happy with 10 or 15%]. You'll understand a lot more about this when you read Elder's book. As I think irby will agree, it may be somewhat specious in the beginning; but, overall I have to agree with irby, it is one of the best books written. The reason I don't employ a 20 day MA is because it doesn't track the short term close enough. I would use it for longer term plays though.

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