CHARTS AND TA, A UNIQUE APPROACH Message Board

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Strategies & Market Trends : CHARTS AND TA, A UNIQUE APPROACH

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To: Rambi who wrote (1262)	11/19/1997 3:17:00 PM
From: stan s.	Read Replies (2) of 1391

OFF TOPIC.................................... Penni, without meaning to seem presumptuous. It seems to me you need to reconcile to the fact that you're a bottom fisher...or not be a bottom fisher. Which means you can't be so hard on yourself when you don't pick the bottom...cause you're not going to..at least not on broken stocks.. nobody does consistently. When a stock drops precipitously on no news...bad news (or the perception of) is likely to follow. When a stock does drop on bad news, more bad news is likely to follow...downgrades etc. You then have to simply congratulate yourself on getting a decent price and steel yourself for the recovery...not a bad way to invest..just takes patience. I would suggest however that before buying broken stocks one should wait for certain signals...an MACD cross accompanied by some relatively safe confirmation i.e. the 10 day MA crossing over the 21...or something similar...depends on one's charting system. On the other hand you could decide to look twards stocks that are doing well. HELE was a good example...'til it broke a trendline in late Oct.. coinciding with an MACD sell...then it dropped below it's 50 day MA.. Blue vertical lines. geocities.com Healthy stocks trading above their important MA's still give oppurtunities when they pull back to support...Magnifique has mentioned several... APSG is another. Trending stocks are good also.. at support levels...I try to list MACD buys every once in awhile...as well as volume and price breakouts...I'll endeavor to do it with a bit more frequency. I'm certainly not suggesting you change your style of investing...unless you find it hard to sleep at night. It is possible HELE will turn out to be a good purchase...you just may have to wait awhile...the trader's lament.. Stan

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