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Strategies & Market Trends : Pitbull Investing Strategies
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To: Doo who wrote (489)11/14/1997 10:18:00 PM
From: Atin  Read Replies (1) of 789
 
Hi Jeffry: I went to the Stock Farmer site you posted and was reading through their "Market Indicator" paintbars system and I don't quite understand their language and was hoping you could help.

They say:
"Blue bars indicate "compression" bottoms, where the price makes a new low on increased volume but with much less downward force."

Less downward force. What does this mean in real terms? You said 11/13 was a blue bar, but the market actually closed up. I guess we did make a new low on higher volume, and then went up. Is that what it means? That we bounce up?

"Purple dots indicate positive follow-through days several days after a low (as described by William O'Neil),"

I guess I understand this part if by several days they mean the 3-11 days that WON talks about.

"and red bars indicate downward reversals on increasing volume and/or days where the volume picks up but the market can't make adequate upside progress."

How do you define adequate? Do you attach a percent change like less than 1%?

And how do you use these? Buy on purple days, sell/short on reds, and close shorts on blue (and consider buying)? Of course, since I only know the day after what the previous day was, I hope this holds for the following day also (or thereabouts).

I didn't understand the graphs they had on the NasBar page. This graph had downward pointing green arrows on days that seem to come soon after a blue bar day and upward pointing blue arrows on what looked like purple dot days (but I'm not sure, the graphs aren't on the same scales). Any help here, or is this a system they sell and you can't talk about it?

Thanks in advance,

-Atin
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