MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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4:00 PM EST

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To: Haim R. Branisteanu who wrote (4624)	1/23/1999 4:20:00 PM
From: Monty Lenard	Read Replies (1) of 99985

Your AMZN story is impressive but I do not play such hot stocks. I said I would never trade a nutz stock either but as I said it was a no brainer BECAUSE OF THE MANIA. As far as candles and especially shooting stars on a stock like DH, one has to be careful because the daily candles will lead the market sometimes several days. When DH made the shooting star there was other indicators telling one to wait such as MACD 8,17,9 along with others. But, if one had considered DH as a day trade and shorted it the next two days one would have made good money inside the daily range. SUNW confirms my statement above as when it gave its shooting star the MACD had turned down rather than up. One must look for confirming indicators...especially with candles. This is the case with most TA. Where should I mail the bill. <G> Monty

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