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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (35548)	5/20/2000 11:45:00 AM
From: Doug R	Read Replies (4) \| Respond to of 79230

From the thread intro: "when the market turns bearish I will invert the scoring system and go short." Since the time I wrote that, I have freed my thought processes of the labels "bull" and "bear" in order to focus on simple direction without having to drag into any trades the excess psychological baggage that comes with those terms. Up, down, sideways...it's all relative to how one is positioned for direction. Using the positions I've taken in the Philly Mag thingie as a barometer it should be noticed that of my last 10 moves, 8 have been sells and 2 have been buys. The most recently taken long position that I am holding is ANET...established 7 weeks ago. The next step after the whipsawed trade on RFMD (accounting for 1 buy and 1 sell) was to establish a short position (1 of the 8 sells) in CIEN on the basis of its chart having attitude to the downside. This weekend I will be reviewing a list of charts for downside attitude and will most likely not be looking into any long possibilities. Starting with the well-known rule of thumb, "buy low, sell high" (the reason why so much of my long side focus was on low-dollar issues) many of the stocks I will be looking to short are high-dollar....inverting the system as the intro states. A scan for stocks with the highest PEs has yielded a list from which I will begin. I can't yet say whether or not any of these has downside attitude (except for CIEN). I gotta do the work on them first: AMCC ANAD ASDV BPA BRCD BRCM BVSN CCU CIEN DGX EBAY ENTU ETEK HIT INFY IRF ISSX ITWO IVGN KOPN LH MICC MVSN NSOL NTAP PRIA PROX QGENF SDLI YHOO Doug R