John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (12882)	10/19/2011 9:11:54 PM
From: Hawkmoon	1 Recommendation Read Replies (1) of 33421

my analysis of FAS is that it's in a congestion zone .... and the cornerstone of our talk was not to use the PSAR for entries ....ever . No doubt about it John.. $20 is going to be tough resistance to plough through. But I don't see quite as much congestion between $12 and $16 as you suggest. bigcharts.marketwatch.com If FAS can hold above $12 (which likely requires some "good news" from Europe on Sunday), it could really take off very powerfully on a 3rd test of it's 50dayMA. Right now it's coming off a double top on that 50DMA. And daily MACD and CCI is beginning a downtrend, so it appears time for consolidation. And John, you have to remember that I'm a trader, not an investor (at this time).. So when I use PSAR, it's primarily at the 10, 15, 30 minute intervals. PSAR on the 10 and 15 minute time frame has truly revealed to me their value when combined with MACD, CCI, and Bollinger Bands. Hawk

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