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Strategies & Market Trends : Technical Analysis - Beginners
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To: DRRISK who wrote (9675)3/3/1999 12:25:00 PM
From: Michael Watkins  Read Replies (2) of 12039
 
Doctor,

I think after reading the thread for a month you wouldn't be surprised at a mild interrogation to your one-liner, no explanation post.

In keeping with the 'Beginners' label, there's a few folks that push back, with the right spirit and intent, with a goal to keep the topic suitable for beginners.

Turning this back into a discussion...

On the topic of COMS, I agree with you that the historical support is there, but all my indicators say danger here - hold on.

Speaking with some experience as an 'investor' who not so long ago adopted TA to improve my entry and more importanly exit performance - I found that I would often jump in too early on trades like COMS based on simply looking at historical support. COMS makes me nervous because of all the negative momentum leading up to today.

Now I find it much safer to wait for confirmation that the stock is turning up, even if waiting for indicators to confirm means I miss some of the move. And just about every indicator I use (StochRSI14 / 8/5; MACD 13,34,89; dahl; insync; and a volatility based stop I employ) says - ugh! Oh and 2/24 said danger to me. A bearish engulfing of not one but three days movement. Time to get out!

Do you have any thoughts on what next with COMS? How do you think it will hold up with the overall negative market conditions and a 5-10% correction the media are fond of talking about?

Cheers
Michael
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