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

To: TheKelster who wrote (53715)	6/12/2000 9:52:00 AM
From: HairBall	Respond to of 99985

TheKelster: Well, I think log charts tend to temper the rise in charts over time and keep the price rise more in perspective. I have also found those support lines and resistance lines over time to be more useful for me. If you venture over to my web site, you can see the rising trading channels I have been posting for a year and a half. I won't call this anything more than a correction until it proves to me it is more. That would require my OMC to dip below the lower band of its 74 rising trading channel. However, this bull has risen rapidly the last couple of years or so...relieving the excess could result in rapid downside action as well. (Extended sideways action could accomplish same, but I doubt sentiment will allow it. Eventually, I think an additional drop will materialize.) For now I will just try to follow the short/medium-term swings in hopes of catching the tail of the major moves...<g> Regards, LG