Technical Trading of Pennies Message Board

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Microcap & Penny Stocks : Technical Trading of Pennies

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To: Sojourner Smith who wrote (337)	3/8/1999 7:23:00 PM
From: paul s.	Read Replies (1) of 478

Sojourner... off the top of my head... I like BBands for basically one reason...when calculated using 2 standard deviations from the average, then statistics says 95% of the closing prices will fall inside the upper and lower bands... ...so what?... to me that means when a closing price or interday price falls outside one of the bands, it's a statistically unusual event...something's up... ...by themselves they're near useless though, so I look for lower BBand penetration followed by confirmation from another indicator... like an oversold RSI that's also trending up...to me it's now reversal time... ...check out this chart... members.home.net ...look for the price penetrating the low band, then moving off the band as RSI trends up...that's the main pattern I look for...so simple it's embarrassing sometimes to talk about... ...for the real story... bollingerbands.com did that make any sense? paul

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