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Strategies & Market Trends : Befriend the Trend Trading
SPY 694.04+0.7%Jan 9 4:00 PM EST
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To: Dr. Stoxx who wrote ()8/24/1998 12:38:00 PM
From: Dr. Stoxx  Read Replies (3) of 39683
 
To all readers of the thread:

It occurs to me that the rather limited number of stocks I follow is not producing much in the way of decent set-ups, as defined by the "rules" of Befriend the Friend Trading. I would therefore welcome input from readers who are aware of stocks outside my constellation that may be showing signs of resuming a strong uptrend.

Remember the basic rules for the set-up:

a. price has been going up regularly for the last 18, 6 and 3 months (i.e. the lows are progressively higher);

b. price has stalled in a sideways or downtrend pattern;

c. Stochastics have dropped to near 25;

d. price is above, at or near the 40MA (too far below is too risky);

e. there is support for the trade from bullish chart patterns.

If any of you are aware of a stock fitting most if not all of these criteria, please feel free to post it.

TIA, TC.
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