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Strategies & Market Trends : 123 Trends and Reversals -- Ignore unavailable to you. Want to Upgrade?

To: Ally who wrote (4)	1/29/2001 11:03:30 PM
From: Ally	Read Replies (1) \| Respond to of 147

Re: RIM Will be interesting to watch whether it'll bump its head against the 150 ema line. If it can't penetrate through this resistance level, could be a nice short. The trend is still downside. siliconinvestor.com

To: Ally who wrote (4)	1/30/2001 12:49:19 AM
From: Michael Watkins	Respond to of 147

Ally, Re GX - that was some 1-2-3 reversal. I prefer the 2B variant myself, since the marginal new low often provides lots of fuel for the move in the opposite direction. Clearly GX didn't need any help. I think I see where you may have exited - perhaps you can adapt a rule that says two counter trend bars in a row will be your exit. Or use a low value EMA (like 1-5 periods or something like that. You'll have to play with the charts to find something). That was quite a move and its just now completed a Grail buy setup on the daily. Some would be long today (Mon) based on the 'up' bar today, with a stop just under Monday's low. I wish I hadn't looked at the 65 min intraday chart, I don't like it as much. It suggests to me that a further pull back 'could' happen and given the big fast move that's not exactly a negative thing, however it can be death for a 'trader' to get caught in an indeterminate move against your position, all bearings lost. There was a minor swing low prior to Friday's low, perhaps its an area of support that will hold. But at least we know not to continue to hang on to it if it doesn't.