Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: hman who wrote (36430)	8/7/2000 11:47:30 PM
From: Doug R	Read Replies (1) \| Respond to of 79396

David, The trip was fantastic. The main event was a family reunion. Everyone either brought or rented boats and stayed in cabins throughout the area. We caught a mess o fish. Walleye are great eating and the Northern pike and smallmouth bass are good fighters. We rented a boat on Longbow Lake and one on the Saskatchewan River so we could do 2 to 3 outings per day. Everyone in my immediate family caught some (I wouldn't bring the boat back to the dock otherwise...heheheh) with my 7 yr old son catching the prize winner, a 3 1/2 lb 27" pike on the designated contest day. The one that got away: I had a 15 lb. pike to the boat but didn't bring a net that day since we started out after walleye. I switched over to a tandem bucktail spinner to try a few casts with it and wound up looking at the thing wondering how the heck I was going to get it into the boat. I pulled its head up out of the water by the line so I could grab it by the eyes (a last resort kinda method) and with one yank of its head it snapped my line. I went to the same spot on the lake the next day and got a 7 lber as a consolation. Brought the net that day. Most of the pike avgd 2 1/2 or 3 lbs. Quite a bit less than you could have expected 10 yrs ago there...as Allan can no doubt attest. Ok...back to stocks... The timeframe from ACT to price peak after IL violation is an average and stocks will go longer or shorter at times. Most will stay within the avg though. DGX's ACT originates on 3/28 with L2 on 1/25. Initial IL violation was on 4/17. From that high in May (5/26...right at 8 weeks after the ACT) it made an initial break down toward the ACT but didn't quite get low enough. It then went back over the IL which would indicate that it was going to be stronger than the usual violator. It'll crack though...all IL violators will be prosecuted to the fullest extent of the chart ;-) The 3 shorting approaches are: "managed"...a little at a time as the technicals get obviously overbought. Any small pullback can reset the short-term stuff for a new push higher as DGX did today. When the short term reaches overbought again, another bit is added to the position. "blow-off top"...huge volume and a ridiculous price move would be used as a signal to initiate. One way to go would be to start with 1/2 and add on the first sign of a serious drop off that high. "break below tightest accelerated trendline"...start position on the break using downtrend lines off the top as stops and add on any acceleration in the downtrend. The basic thing is to pick the strategy you're most comfortable with and just wait for the conditions that support the strategy to happen. Phew...that was a long one. Doug R