LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: LastShadow who wrote (6584)	1/17/1999 1:09:00 PM
From: Thomas Sterner	Read Replies (1) of 43080

<<I think the opportunity for a correction is there,>> I spent time Thursday and Friday morning moving mutual funds to cash and then spent Friday afternoon questioning the wisdom of what I had done. I went through charts for indexes and stocks I follow looking for patterns and applying a few indicators. I found that the charts for the stocks and indexes I follow are forming what now looks like the beginning of a right shoulder for H & S patterns. I like to look at a 13, 34, 89 MACD for the indexes. Here, for the Dow especially the difference between the MACD and the trigger is lessening. I am not as bearish as I was in July and September but I now feel I did the right thing. And yes, of course I'm rationalizing. ;>) Since we have an extra weekend day, maybe some others would like to share thoughts. Tom

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