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Strategies & Market Trends : MDA - Market Direction Analysis

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To: dennis michael patterson who wrote (8480)	3/19/1999 9:53:00 AM
From: donald sew	Read Replies (2) of 99985

Dennis, I am playing options, so I am normally only looking for a 3-5 point move for a $50 stock; therefore I am not looking for huge moves. Here are things I look for: 1) LOWER HIGHs/LOWER LOWs in a stock. I wait for them to peak using my short-term system. A recent play was RCL 2) If its not a LOWER HIGH, then a double top formation. A recent play was BEL 3) I also look for extreme upside divergence from the 13 and 21 day moving average. I look for rolling stocks not those that head straight up. Once they get to a strong upside divergence compared to previous upside divergences, its a possible pick. 4) I also use my short-term technicals for a CLASS SELL signal. 5) Of course I use chart patterns like wedges/flags, and an example of that is CAT. Hope I was of some help seeya

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