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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: jjs_ynot who wrote (16163)	6/5/1999 11:07:00 PM
From: Berney	Read Replies (1) of 99985

Dave, Re: I have not found stochastics and MACD to be strongly correlated. That's probably why I use them together. When used in conjunction with trend lines and support and resistance, the effort can give you a headache, if not a good handle on the situation. The first question I ask myself each morning after reviewing the daily and weekly stochastics and MACD for OEX is whether we are in a bear or bull market. If it is a bear, I only want to trade in the direction of the 60-min sto and really don't want to hold overnight. If it is a bull, I'm more inclined to go simply in the direction of the particular stock and have no problem holding. Most of my pain comes when I violate this discipline, but I really am trying to get better at it. I admit to being a trader and traders like to trade. The most difficult aspect of this game is to simply recognize that there are times when one should just stand aside. Berney

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