Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (3828)	3/10/1999 9:28:00 PM
From: James Strauss	Read Replies (1) of 13094

Top Down Stock Selection... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ I've been reading Tom Dorsey's Point and Figure Charting book... One of the best lessons he gives is not to look for the stock first, but to assess the market first... Is it going up or going down? Trying to select a stock and go long when the market is going down puts the odds against you by a 75% to 25% factor... 75% of the stocks follow the prevailing market trends... After you've determined the market direction, select the best performing sector on a Relative Strength basis... Then select the best stocks within that sector... Use this approach, and you have the odds in your favor... Currently the market is rising... Currently the Oil Services sector is the best performing sector... GLM and RDC, HAL, and HP are the best performers in this group... So... Look at the market direction... Find the best performing sector... Find the best stocks in that sector... That's all folks... : > Jim

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