STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE Message Board

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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE

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To: Dave H who wrote (1050)	1/1/1998 6:23:00 PM
From: Christopher	Read Replies (3) of 2377

Dave, I have already agreed with Sergio caution. The reason I asked Sergio to look into the FA is because it will determine wheither this stock will continue to move up and may be become a possibility in the near future. I was not recommending this stock for purchase when I asked Sergio to look at it. I have been reading memos at TA 56 and the SWAT threads for a very long time. I have a lot of respect for every one including yourself, Doug R., Sergio, Instock, and Myron. I have supported your work when I told Christopher Smith that TA works fine with penny stocks and even asked him to find another thread to harrass and leave you guys alone. From reading your memos I know guys that you love Stochastic 89,3,5 and become familiar with the way you approach your stock. There are as many ways to approach a stock with TA as there are people since there are hundreds of TA indicators to work with. I agree APMC is not a buy at this moment. The following is what prompted me to ask Sergio to look at the FA: I agree with you that this stock has a long downtrend but I personally beleive that it has just started a trading range very recently. The price of this stock on 12/26 was $5.50 and on 12/30 it was $5.75. The stock looks like it started to curve up a little. The stock had formed a head and shoulder pattern. The distance from the head to the neck line is about four dollars. The distance from the neck line to the recent lows is also about four dollars. My understanding is in the case of head and shoulders this decline in price is about right and the stock could resume to go back up again. I am not saying it will but I think generally speaking that is the case. In addition the volume has picked up recently along with the price. The stochastic for 89,3,5 did hit zero on 12/15 but it is on its way up now and at reading of seven as of 12/30. The short term stochastic 3,3,3 shows that it hit zero on 12/12 and it is now 40. The short term RSI hit 16 on 12/12 and is now 25 and is heading up. The MACD has given a buy signal as it just has accomplished a cross over. Dave, the way I look at a stock is different then you guys do. You all have attended Doug's class and speak the same language and think alike. I shared with you some information on how I arrived to my conclusion. You are right the stock need more TA work and I personnaly would in no way buy a stock like this at this point. I would have to wait for the stock price to go up more and break up the resistance of the downtrend line before I buy it. In any case, you all guys have earned my respect and admiration a long time ago. I am sure that anyone can learn from what you have to say. I would not be surprised at all Dave if you have a thing or two for me to learn. HAPPY HOLIDAYS ONE MORE TIME TO ALL.

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