Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 685.33

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Jan 21 4:00 PM EST

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To: Dr. Stoxx who wrote (3048)	2/13/1999 12:51:00 PM
From: Ken Adams	Read Replies (1) of 39683

TC, I'm seriously considering PCMS for an "add on" trade. I'm currently holding it (perhaps unwisely) from 9-5/16. My plan is to put in a buy stop for Tuesday at 7-5/8. This is one tick above the high for Friday and would signal a reversal. It would cause stochastic to turn up from its current low level, confirming the signal. OBV remains very high. Right now, price appears to have bounced off the flat 40d EMA. On my WOW chart, I use a smooth 34d combined with a weighted 34d. There, price is bouncing off the smooth 34d. This would average me down to about 8-7/16, which shouldn't be too hard for price to reach on a bounce here. If it returned to 10, my gains could reach about 18%. Put a stop a tick under Friday's low, or 6-15/16. Your thoughts? PCMS: timely.com KA

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