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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: James R.Gross who wrote (12169)	12/14/1999 10:32:00 PM
From: TATRADER	Respond to of 59879

Jim, on WORK the ADX was at 50, with +D1 above -D1..This is a sign of a very mature trend..I usually exit most positions if the ADX is moving above 40...Once above 40 you are in the super danger zone to a pullback...In addition, you need to see at this point if simple stochastic and RS are both confirming the overbought status of the stock..They are in the case of WORK..Also check if the RS is making higher highs than the past, if it is not, it is showing a lack of momentum..WORK has had lower peaks on the RS, as the price goes higher..Bearish sign...I would look for WORK to pullback now to the 24.75-25.00 area...The volume was low today as well displaying a lack of momentum..Technicals all are calling for a pullback.. If the -D1 is higher than the +D1 and the ADX is increasing on lighter volume, this is a sign of the negative trend weakening, and possibility improving of upside reversal.. However, you will need to confirm this with other oscillators, gann retracement, large volume areas of the past, and chart patterns... regards, Mark