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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Doug R who wrote (10302)1/9/1998 1:27:00 PM
From: ivan solotaroff  Read Replies (1) of 79489
 
APM:

Doug:

Couldn't see what you saw in APM, then put two and two together (Doug likes it + Doug is not crazy = There is a reason he likes it), and went about, a la Occams Razor, to learn why. Tell me if I'm wrong:
The trendline from the tops of 10/18 and 10/23 leads one to the breakout point. Easy enough to see, but not necessarily a buy signal. Not so easy, and more likely to trigger buying, is: the 5dMA, though violated on the upside several times on the way down, was violated with volume on an UP-day for the first time on 12/29. Ergo, closing in the black on volume above the 5dMA makes it a low-risk momentum play. (I imagine there was a little RSI and Fibonacci involved as well.)
Was this one you tracked for return/failure to return after 10/27?

Ivan
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