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: Doug R who wrote (37955)	12/31/2000 10:48:08 AM
From: Steve Felix	Respond to of 79308

Doug, "Now you've hit the level where minimizing mistakes is crucial." Actually I have spent quite a bit of time the last two days putting my rules on paper. Seems I don't follow them well enough just keeping them in my head. First one is to spend time looking at exactly what happened in every losing trade, and what rules I broke. Example #1 Let the stock tell you what it is going to do ( the ego thing ) and don't add to a losing position. So, since I am sure I am right, I add to CITI two days before I sell. Ouch! Example #2 Never settle for a loss once you have a nice gain. Barely had enough cash on 10/10 to buy 200 SMSC @20 1/8. Placed a stop at 19 1/8 and watched with glee as it roared after coming back to 19 1/4. I could have sold half over $27 and attempted to stay in. I could have raised my stop into positive territory. I did neither and lost $224. There is really no excuse for stupidity. Sometimes it is the small things that make a big difference. I used to have a tendency to try to pick bottoms. I usually ended up stuck in crappy stocks. Adding 200dma(0)>200dma(-30) was so simple, yet keeps me away from most of that junk. Knocking out a demon can be as good as finding gold. Seems I just broke this with RAD, but then it isn't 2001 yet. <lol> Most of my friends that thought it was fun when you could shoot ducks in a barrel are disgusted now. As for me, I'm putting on a copy of Segers greatest hits. Roll Me Away seems appropriate. By Tuesday I'll be into Old Time Rock And Roll!!!! Well, back under my rock to look at my short list: ALLC CSTR HMA IFSIA MME SLE SRE WCS

To: Doug R who wrote (37955)	12/31/2000 12:38:27 PM
From: Woody	Read Replies (1) \| Respond to of 79308

A hamster, LOL .. and speaking of ROC and roll ... ROC scan hits, MDG, MERIDIAN GOLD INC COM MGL, MAGELLAN HEALTH SVCS INC COM ROC 2, HPS HEALTHPLAN SVCS CORP COM MESA MESA AIR GROUP INC COM WERN WERNER ENTERPRISES INC COM ROC 2+25, GMT GATX CORP COM INTI INET TECHNOLOGIES INC COM PDCO PATTERSON DENTAL CO COM PG PROCTER & GAMBLE CO COM And hey .. if Warren Buffett is buying junk bonds .. well it's worth a look at this puddy .. FNV. dailynews.yahoo.com Happy New Year to all Woody

To: Doug R who wrote (37955)	12/31/2000 1:11:18 PM
From: milesofstyles	Read Replies (2) \| Respond to of 79308

looking ahead pt 1 members.home.net use internet explorer. on a weekly basis, there are hints of positive divergences. not as clear on the rsi and maybe just under way, but it is more illustrative under the cci 28, which will closely mock the rsi 14.(thx dj) using this longer horizon we see the struggle that ensued over recovering the fib level at 2466ish. in the longer horizon this clearly needs to be recovered. that would be the bullish scenario. 8-8-97 to 7-24-98 across the tops, should be verified, but i see this as the current support level as best i can draw it, do verify. i'm using the 2-4 to 5-26 line as the lower channel of this downtrend. this line was chosen as it reflects the last two serious bounces that occurred. we can see that its moving into an area that would potentially support a double bottom scenario. we can see that if that line is breached, we're most likely looking at the potential for the .78(purple line) to be tested. members.home.net thats the daily. a largely bearish candle ensued friday. using the rsi as our guide we see the potential for another bearish leg in its inability to break 50 again. a few months back i mentioned the shifting of the "horizons" on these indicators and you can see that has taken place in that most bounces didn't break 50 and none exceeded 70. i've heard friday called "hedge window dressing" and "final tax loss selling". we'll see. and that 401k doh is sure to come in now so they say...i'll stick to the chart for now thx. so what needs to happen? combining the two charts, we need to see a piercing candle tuesday, this keeping in mind with the weekly potential bull scenario,(and possible support level across them tops) i'm not sure how the weekly will turn on a dbl bottom test in regards to losing its potential divergence. i think any week we start to lose that last fib could spell more trouble. members.home.net looking at the sixty, i've fibbed the move from dec 11 to the lows, the bounce that occurred so far i would classify as weak, two attempts to break 2493, the lower green line, .38 retrace have failed. it also ties in pretty closely with where the weekly fib stands. note also we have lost the .23 level and uptrend as well. we currently stand in an oversold condition which could lead to a bounce. you can see the apexing occurring over the next few days, the last of which is around 2412. so watch for that level to negate friday's candle, followed by further confirms in the larger timeframes. each direction currently has the potential for a nice sized move when it decides which side of the apex it wants to maintain. depending on holiday acitivities, a list of stocks to monitor to assist in the scenario may follow, as there were many failed downtrend breaks friday on some ndx flyers milesov

To: Doug R who wrote (37955)	12/31/2000 1:17:00 PM
From: Alski	Respond to of 79308

Dougr, Speakin o BONZ, I expect that one to gap up and run about Tuesday. My opinion is not based on TA tho. :-( For tax reasons I sold 700 shares of that one right into the close Friday. MM took all 700 shares on the ask when they were showing an bidxask size of 100x100. For me to get out on a hod top tick can only mean that it ain't gonna be the top for very long. Them MM's just don't treat me that nice. FWIW...Alski