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Strategies & Market Trends : TA- Advanced GET -- Ignore unavailable to you. Want to Upgrade?


To: Allan Harris who wrote (1392)8/14/1999 9:32:00 PM
From: david kohn  Read Replies (1) | Respond to of 1551
 
XTL BreakOuts
I got a XTL blue on friday, what is the XTL setup for such a case? I'm not very familiar with XTL trades! just trying to figure them out. I'm likeing this blow by blow stuff very educational :) or atleast for me it is.



To: Allan Harris who wrote (1392)8/16/1999 8:45:00 PM
From: Allan Harris  Read Replies (1) | Respond to of 1551
 
My informal reading of general sentiment around SI, CNBC and assorted other venues is that you would have to be crazy not to see the tracks of the BIG BAD BEAR just around the corner. What does GET say? Actually, GET says different things depending on how you set up the charts. But here's one thing GET is saying that you probably won't find anywhere else:

INDU
Wave 5 BUY Signal
Wave Count: Long Term
Oscillator: 10/70 & 5/35
Confirmed: DMA, Regression Channels, Elliott Trigger, Parabolic
Target: 13,000 - 14,500
Stop: <10,500

Speaking of XTL trades, take a look at SONO.

A



To: Allan Harris who wrote (1392)8/17/1999 9:02:00 PM
From: Allan Harris  Read Replies (1) | Respond to of 1551
 
QCOM

What now?

There are reasons to move the stop up on the new Long trading position taken at about 150 or so:

1. If you set the wave count on Original you get a classic set up for a Type #2 SELL. Five waves up and divergence on the 5/35 oscillator. All that it needs is a break of the regression channel up from the August 5 low. That would come at about 150 now, moving up a bit each day.

2. A 61.8% retracement of the move up from 136 to 174 comes in right at 150.

3. A MOB drawn from the July 20 wave 3 high hits right at today's high.

For all of the above reasons, I think the stop should be moved up to any close under 150.

A