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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (5302)	6/17/2001 7:11:46 PM
From: chowder	Read Replies (2) \| Respond to of 23153

Gottfried, I don't disagree with your buy signal, as the indecision with regard to AMAT's candle pattern on Friday does favor the bulls. I am unsure of how much Triple Witching had to do with that trading pattern though. I must admit, a buy here is for the aggressive trader. The moderately aggressive person would probably want to use Monday's close to determine the trend before making a decision. If one were to go by the book, a Spinning Top is a one day trading pattern and confirmation of the trend is recommended before acting on the trade. The more conservative trader may want to wait for three or more of the other indicators to turn up before buying. What makes providing technical analysis on a forum like this tough is that everyone's objectives and level of knowledge is different. For example, I know that Kollmnh follows NBR very closely and has for a couple of years. Based on his knowledge of the company, I was able to make a successful short term trade when the indicators started turning up instead of waiting for confirmation. If I waited for confirmation, I'd still be waiting because I was in and out of the stock in two days and the stock turned negative that quickly. You know AMAT. A move in here, for you, may make sense where as someone who isn't as familiar with AMAT would be taking more risk by moving now. If I don't know the company as well as I should, I like to get at least three indicators flashing a buy signal at the same time. Following this pattern has made a significant difference in my short term trading. Let me give you an example. Around the first week of June, I mentioned on Plastics that I thought GADZ was a buy based on the chart and technicals. I bought in and a couple of others here did too. At that time the RSI turned up. The MACD Indicator turned up. The Williams %R turned up and The Slow Stochastics turned up. I had four different indicators flashing a buy signal. In addition to this, the candlestick pattern flashed that same Spinning Top, the pattern of indecision, but in this case the other indicators supported the trend reversal and the stock did indeed rise immediately. stockcharts.com[l,a]djclyymy[pb50!b200!d20,2!f][vc60][iut!Ub14!Ua12,26,9!Lk14!Ll14!Lc20!Lh14,3] As you know, there are many ways to make money in the market. Each of us has to find our own comfort level and then work at it consistently. Since I'm not smart enough to get ahead of the curve, thanks to you, I think I've found a way to make money following the money. By waiting for three or more indicators to confirm a candlestick pattern, it has taken the emotion out of my trading and most of my poor trades in the past involved emotion. Knowing you as I do, I think you may be right on AMAT for a ST trade. You know the company, I don't. dabum