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Strategies & Market Trends : Technical Analysis - Beginners

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To: Richard Estes who wrote (10193)	5/2/1999 3:15:00 PM
From: TA2K	of 12039

"What did you use to buy?" I must admit that in buying my latest I went against my usual buy-low approach. I bought one with strong growth, that headed up nicely, and paused -- moving averages falling back a bit. I figured that following the pause, things would start moving up again. Well, this strategy is apparently more complex than it looks. Using the QCharts retracement tool (as I noticed Sean using it in a OneList post), I noted that my stock at least had stayed above the 50% line. I figured that price would basically bounce off the 50% line since it was more or less hovering around there for five days. StochRSI, all except the 5-5-3, are basically still in a downward mode. My tentative hunch is that several of you will scold me that I should have waited to buy until some of the StochRSIs turn up again. Is this correct? I'm hoping (I know you hate that word) that next week price will indeed bounce off that 50% line, and head up. If it remains at the 50% line, I think I may have to be an 'investor' on this one. You probably would advise selling the damn thing, and buying back when various signals turn up, no? Thanks, Nicholas

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