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Strategies & Market Trends : Technical Analysis - Beginners

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To: David R. Evans who wrote (8779)	10/16/1998 2:54:00 AM
From: shasta23	Read Replies (1) of 12039

HI DAVE! You probably answered this question already but i still like some clarification if you have the time. OK, got rate cut today and rally. DJ makes higher high but NAZ is still in the Raff Regression channel and most indices approaching now the 150WMA(=100SMA) as overhead resistance. My scan's picked up very few official shorting candidates unlike the last days and a whole plethora of Stochrsi(14) and MACD8-17-9 crossover candidates.But most of the charts look really damaged and i also must admit that the extreme volatility the last days have made me insecure and i stepped aside. I added the last part to clarify why i'm so hesitant to go ahead and buy the usual crossover signals. So i was wondering if the Raff regression channel breakout is your main additional info besides your favorite combo with SAR, stochrsi(14), macd8-17-9(plus the GETinfo not available to me) or are there other factors that makes one of these beaten down stocks more attractive? e.g.do you want the 21EMA taken out ?or do you want a flattening of the 50SMA? etc. I was burned last week with some losses and stayed out of the market this week missing the whole rally.Now i'm insecure to jump on board again since i don't have the feeling of stability in me and the market yet although stochrsi14 hints in the direction that market will go higher a few more days.Maybe you can clarify how you deal with the damaged charts? THanks in advance... Stefan

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