Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: TATRADER who wrote (5153)	3/16/1998 12:35:00 AM
From: LzzrdKing	Read Replies (2) of 7396

JDEC is simple actually. I tend to think that a chart can tell me where to enter a stock based on the past. JDEC is a trading range of say 29 to 34, give or take a bit. On 2/17 JDEC moved under 30, it had a daily low of 29.375, then the next day the bottom was 29.75. After that, explosion to over 34. Why? because that higher low is a sign to shorts that it may not go lower, and a sign to longs that a reversal is coming. Same thing this round. You have a drift down on very light vol to a low at 28.75, then two lows at 29.125, thus higher lows, then 29.25 <with higher high of 30>. Same signal to shorts and longs. Bottom is in. 30, being a round number is always psychological resistance. When it gets thru it, it moves. Longs appear and shorts cover.

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