IBM Message Board - Msg: 3414034

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Technology Stocks : IBM

IBM 307.94

0.0%

Dec 5 9:30 AM EST

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To: The Philosopher who wrote (2490)	2/12/1998 1:04:00 PM
From: Chris	of 8218

when stocks/mkts consolidate, a lot of Technicians get whipsawed. that's why for TA you set up yourselves with LEVELS to play with.. ie: ok, i know ibm is trading between 200 ma and 50 day ma.. if it goes below 200, do PLAN A.. if above 50 ma, do PLAN B.. indicators and stuff are useful to measure "strength' of the move or lack of... but using support/resistance levels gives you some REFERENCE POINTS.. when one of my indicators gives a buy signal, you dont know how much it can go up without looking that the chart itself. indicator will only tell you "buy", but wont tell you how far/much this rally is.. using the price chart IN CONJUNCTION with the indicators will give the complete picture.. just my thoughts..

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