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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Ken Adams who wrote (8261)	6/14/2000 9:53:00 PM
From: Ken Adams	Read Replies (1) \| Respond to of 39683

All, There has been some talk here lately about a way to avoid buying (or selling) into counter trend moves. I knew this sounded familiar so I went back into my old notes. I attended a seminar several years ago on the methods of GANN. I don't want to get into all the GANN stuff, but one of the notes I made from a 1988 seminar told me this: Monitor the weekly chart and trade from signals on the daily chart. I first bot BEAS at 35.75 on 5/23 on what I saw as a valid signal from BTT-MAX. Here's the chart (far left side): siliconinvestor.com A solid crossover, and an apparent bottom at least from this hourly chart. I thought a safe buy. But... I had to close the position based on the action during the next few hours. Here's what the daily showed. A very clear picture that going long here wasn't smart. From this you can see that I use the 8d EMA and the 10d SMA for the daily charts. I've posted this before. It clearly shows the downtrend isn't over quite yet. Stochastic is unclear here. Message is to wait. 207.61.23.99 Then, at the end of the month, BEAS gives a good crossover on the daily chart, suggesting this is the time to go long. The daily hourly chart confirms this. The lesson is to watch the daily chart for an idea of short term direction if you're trading on the hourly chart. Ken

To: Ken Adams who wrote (8261)	6/16/2000 3:28:00 AM
From: elepet	Read Replies (1) \| Respond to of 39683

I'm new to this thread and not great at TA and not entirely clear about the system you're using, but it sounds interesting. Bought BEAS on Thursday at 43 5/8 because charts looked good and I've been watching it for awhile. I'm quite skittish about this market, and am wondering whether to take a small profit and run or to hold at least till it hits resistance at about 50. Maybe longer. Any ideas? What would I look for as an indicator? Also noticed GMST on your list. Are you still trading that one? I got stuck in the downdraft there and am getting tired of waiting for it to move up. General question: When you've been long on a stock, and it hits the point indicated, do you then go short on the same stock immediately? Thanks.