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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (26722)	9/23/1999 4:38:00 AM
From: Teresa Lo	Read Replies (2) \| Respond to of 99985

In the end, it all depends on the time frame... intelligentspeculator.com On the daily chart, AOL is technically sideways within a trading range, so those who would like to trade it would be anticipating support on a test of the lows at $80 and then would be anticipating resistance at 1. the downtrend line at $92ish 2. at the 20-day EMA 3. at the 50-day EMA and then 4. At $105ish at the upper end of the trading range. That's the really big picture. Only if $105 is decisively broken to the upside would AOL be on an uptrend on the daily chart. Right now it is in a trading range. What people wish to do in the wiggles and squiggles to make money is their responsibility...it's not like I'm supposed to call it for anyone in real-time ;-) I don't imagine people trade it on the daily chart so this analysis is not very useful to the short-term scalper. I don't personally trade stocks, but if I were I act off the daily chart. I leave all the intraday scalping to the S&P futures, which is much easier to trade than net stocks, IMHO. If you are looking at a weekly chart because your trades are in terms of weeks and months, there's no reason to buy now. intelligentspeculator.com But if your time frame is 15M, there were three trades to the long side in the past few days, after a bunch of shorts to ding it on every bounce on the way down. intelligentspeculator.com And if you're a "daytrader" you dispense with all this and would have made about 300 trades since Monday morning, trying to make 1/8 here and there. T.