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 : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Silent who wrote (419)	2/17/2001 7:01:27 PM
From: JRI	Respond to of 52237

Joseph- Others can probably answer better than I, but I'll give it a shot... Some technicians put a lot of emphasis on the close, vs. intra-day....obviously, to be safe, you look (if it has breeched) intra-day, but, technically, in a lot of cases, it can break it intra-day, and still be considering "holding" the line, if it closes back above it.... Given this nasty bear, I feel safer playing the intra-day signals only.... In most cases, it CAN breech the "line" by a few pts. here or there....but not by too much....this is again, somewhat, subjective...maybe others can give a better idea of %....I think Murphy mentions it somewhere in his bible "Technical Analysis of the Financial Markets"... Finally, it is also on how you draw the lines....often, it is not an exact science (as you can see from some of the discussion here)...also, remember to look at the action in and around the line......does the line literally CAVE in....big volume, big move thru.....or do you get an immediate bounce (on volume)...or is it tiptoeing around it.....all this should give you a further clue (where is the line? Has it been really been broken?)...