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Strategies & Market Trends : Stochastics

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To: Roger Hess who wrote (320)	3/4/1998 2:41:00 PM
From: Wayners	Read Replies (1) of 927

By trying to go long YELL, what you are really trying to do is play a countertrend rally and exploiting the current high volatility. The bottom will occur roughly where the volatility peaks. Volatility is peaking but isn't quite there yet. When it does jump on. I don't know about setting a price target like $18 unless its a former support or resistance level. Just randomly picking $18 is a crap shoot at best. You must also understand that trying to play a countertrend rally is risky because you are trading against the trend. If you do time it right, make sure you do not get greedy. As soon as stochastics peaks--GET OUT. Okay? One of two things should happen. Price will either spike or it will not move at all--which means you should get out when the stochastics peaks, even with no price movement and a potential loss.

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