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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: freelyhovering who wrote (3047)2/17/1998 7:08:00 AM
From: Doo  Read Replies (1) of 3325
 
Myron: Pull the EMA up with slow stochastics. MSFT started correcting a few days ago. Bearish? Maybe, but nothing technically too scary about it, yet. Stocks correct all the time, right? My game lately has me looking for powerhouses that are "resting", just like MSFT. THRX is another, more dramatic, example. Looks almost ready, and I've got my options priced for possible entry on a flush today or a crossover tomorrow.

What I've been doing is waiting for oversold conditions on the slow stochs, and when they crossover to bullish side, I check the condition of the EMA, taking a position if it looks like they will cross in a day or two thereafter. I add volume into the mix, and want to see it "drying out" just before I enter. I'm particularly looking for confirmation from the 3 by having it cut back up through the 7 and 10. NBTY and TWLB are good examples. Most often the EMA crossover seems to do little more than confirm the slow stochastics which usually proceed the EMA crossover, at least when you run them as short as 3/7/10.

MSFT? Looks like we are in for a rally this morning, so a leader like MSFT may not behave well under these indicators. But watch THRX. I think it's a good example of what I've been trying to work with.

Jeffry
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