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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: wallstreeter who wrote (3027)	8/18/1999 12:58:00 PM
From: Rick Faurot	Read Replies (1) \| Respond to of 18137

WS, This looks like a reasonable trade. You shorted fairly close to the high and egrp has had quite a pop in the past couple days. First, you covered on your stop. Always good! Don't look back on that. The action today pretty much subsided after the first hour, so conditions were drifty by the time you tried your trade. Also, you were within shooting range of a lunchtime buyers rally. This sometimes starts a little early and this is probably what got you out. Egrp has been tremendously hammered in the past month and may be done getting killed. You want to be a little bit circumspect shorting in this situation. Probably still a good short, though. I would chalk this one up as a good trade. Rick

To: wallstreeter who wrote (3027)	8/18/1999 1:24:00 PM
From: gladman	Read Replies (2) \| Respond to of 18137

EGRP short analysis: Take a look at a 5min candlestick chart with MACD, Stochastics & Williams%R. You shorted at 28 7/8 on a bearish candle with a long body, the MACD broke below the signal line... everything looks good for a short right? Unfortunately you shorted at EGRP's intraday support. Notice the next bar the %K starts to upturn(bullish when %K crosses above %D)a signal that the trend is reversing, additionally the candlestick is a Harami... a Harami next to a bearish candle is also another reversal sign. MACD still bearish. The next bar the %K touches %D - reversal strongly possible - the candlestick is a doji which is indecision, Williams%R reverses, MACD still bearish Move 2 bars ahead(10min) and %K crosses above %D(full reversal), MACD uptrending to signal line, bullish candle... price has fully reversed. I use MACD/Stochastics/Candlesticks/Williams%R for entries/exits... I don't catch the top/bottom but the general trend can be captured. Good luck, Dave