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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (258)	8/21/2001 9:20:19 AM
From: isopatch	Read Replies (5) \| Respond to of 36161

Paul. My Chart Approach is Completely Different IMHO, the entire concept of "overbought" TA indicators is a misunderstood by 90% of traders. The very definition of a major Bull Move in a stock or sector is when it gets and stays overbought for long periods of time. I'm a trend follower not a swing trader. So want stocks that show this kind of powerful trend confirmation. Then let my profits run vs scalping or STing all my trades. Next forget daily charts. The first thing to look at for in Intermediate work is weekly charts. Here's mine for GLG: stockcharts.com[w,a]whclyymy[de][pb50!d20,2][vc60][iUb14!Uk14!Lh14,3!Ll14!Lc20] The oscillators are "balls to the wall".<G> Right where I want them to be on "the leader" in my portfolio. And look how how high the ADX thick black line is!! And look at the money flow! All ringing confirmation of an extraordinarily powerful Bull trend. Paul, this is the stuff that multi-baggers are made of. Finding them and then letting them run the full count is how I outperform the vast majority of investors over time. Best Iso

To: Paul Shread who wrote (258)	8/21/2001 10:47:43 AM
From: Arik T.G.	Read Replies (2) \| Respond to of 36161

Paul and iso, Enjoyed your exchange and I think you're both right. Gold just completed a 5er from the July 31st medium term bottom, which 1. Proves the trend is up 2. Needs a counter trend correction. So far the correction is very shallow (same as other anti-Dollar measures such as the Euro) which supports the strength of the trend. But it needs more time. For a 12 trading sessions trend I'd expect at least 3 days correction (correlates to Donald's three days pattern). Looks like one more down day before the trend resumes. ATG