Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: chartseer who wrote (45465)	2/6/2013 2:21:39 PM
From: Fintas	Read Replies (1) of 220558

Nah just playing with you. I rarely see anyone yak about PNF. I subscribe to all forms of TA but I have a close spot in my heart for TA. So rule number one re PNF. CHECK the RS. KNOW where you are. Do not guess. Otherwise the pattern you are looking for may not apply. Also keep in mind that in the world of patterns the sell side is more successful when RS is negative. Once you know where you are then if you want to take a shot do so. Remember a whole bunch of TA types were recently scrambling to buy at 525 and were VERY WRONG! I put up the JDSU to let you look at it's RS. And then consider where it is sitting and what to do. I agree with you re NEAR term. What can not be seen re a JDSU is the takeover possibilities and why I don't get cute. IF you want a sector to anticipate take a look at the semi's. Look near term and LONG term. You will see some interesting patterns developing re RS. Some are close to turning UP yet the stocks are TIRED. Some are bottoming yet are closer to moving up then those that have to eat up time. Why do I watch. I look for WHERE the OOOMPH will be for an out of favor stock that will surprise while grabbing the calls on the cheap. BAC is classic. Be well and don't mind my way of playing. Helps to keep me thinking as this is part of my cognitive therapy. Fintas

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