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

To: flatsville who wrote (49930)	5/9/2000 11:11:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

all: FWIW, sold the utilities....still hanging on to oil stocks but i'm beginning to get a bit antsy about those as well. regards, hb

To: flatsville who wrote (49930)	5/9/2000 11:22:00 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

flatsville: Thanks, it is important to get the basics right when drawing trend lines and or pattern formations. If they are not drawn correctly all analysis that follows is flawed. It is also important to keep in mind that all patterns and trend lines eventually come to an end. The importance is to use them for probable outcomes and as decision points. But the decisions should not be based only on the trend line whether part of a pattern or an independent trend line. As the price action nears or intersects trend lines or horizontal price action SRLs additional technical indicators should be used to help determine what action if any should be taken. The predictive nature of TA is fluid and is neither long-term nor short-term in nature, but a combination of both as each effects the other! Using multiple time frames for analysis is paramount! Regards, LG