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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Gene S who wrote (29796)5/21/1999 3:03:00 AM
From: Doug R  Read Replies (3) of 79273
 
Gene,

There is a media aura around LOCK AND there is a fundamental reality to LOCK.
Neither of those is my concern. I'm a technical analyst. I focus on supply/demand as it relates to risk/reward. If you really think about that, what else is there???
That perspective, as applied to LOCK at this point, dictates a rational conclusion toward the application of diffidence.
On a technical level, LOCK was a buy in the 3 to 3 3/16 range. There was a heaping helping of % potential in it at thattime. NOW...that potential is outweighed by the risk.
LOCK just might go higher but SHEESH...flipping from LOCK into FLYR was (and might still be) a no-brainer.

There's this "method" I have about posting. When I mention just ONE stock in a post...try not to ignore that stock. If I mention more than one...do your own work and get back to me about any stock which your work suggests significance.
If you've been to one of my seminars, I'll know that your suggestion warrants attention. There's a "language" that the charts speak. Books about trading emulate trading. Books about the market emulate the market. Books about money management emulate money management. Books about classical TA emulate classical TA.
What do all those approaches lack? They lack a focus on what charts and technicals actually "say". I have geared my research toward the "syntax" of TA. When a verbal statement is made with a particular intent, it is the syntax within that statement that must be understood in order to extract the full meaning. From the understanding of the full meaning, the most can be made in terms of understanding.
There is a frame of reference within which TA can be applied that allows one to better grasp reality insofar as supply and demand is concerned. From that frame of reference an application of risk/reward assessment can be coupled with % profit potential assessment in order to make relatively unbiased buy/sell decisions.
The techniques remove emotion. They remove hype. They remove instock (sorry...I just had to say that). They remove the undisciplined knee-jerk reactions that cause the majority of individual investors or traders to become victims.

Never fall in love with a stock. You'll never sell that way.
Never fall in love with trading. You'll never have cash when it's best to do so.
Never fail to sell.

I don't know how many times I've said it on this thread but.....UPTICK ON VOLUME is the key.

Tim Warner kicked ass with that one today. Congrats Tim. BTW...where did you learn to trade like that anyway??? >>gg<<

FLYR to 13 soon.

Doug R
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