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 : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Cush who wrote (3751)	11/20/2001 11:08:58 PM
From: Davy Crockett	Read Replies (2) \| Respond to of 5144

Hi Guys, I've added another indicator to my charts & am trying to integrate it with the other chart indicators. (I'm like a kid in a candy store... always gotta try something new <g>) It is called the Last Stochastic ... stockcharts.com of course it is named after Scott McCormick from lastshadow's thread here on SI Message 16680431 Looks pretty useful to me... especially in conjunction with the OBV photos.yahoo.com Reading this chart from left to right & from bottom to top(u would be surprised how I read the bloody things some days <g>), the green vertical line intersects the Slow aka Last( K=39, D=1) stochastic on the bottom of the chart, precisely where the Last stochastic crosses over 50. 50 is considered the trigger for buy/sells whenever the indicator crosses above or below 50. Note on the chart that OBV is positive & that MACd also gives a buy signal especially since ADX is over 20 & +DMI is over the -DMI. The red vertical line indicates the sell signal. Note the importance of the MACd sell signal that was generated with ADX up near 70. (SAR also confirms BTW) Okay, back to the Last stochastic, on the intersection of the vertical green line in April, the Last stochastic crossed over the signal line @ 50 with confirmation again a couple of day later with the OBV & price higher than the closing price of the prior week. What I found really exciting here, is that ALL of the other indicators were really sloppy, because of the oscillating nature that the stock was in for approx. 6 weeks between mid March & the beginning of May. One could have been in the stock before the run that began in earnest May 1st. and stay with the stock all the way to the present time without being whipsawed. As Scott indicates in his article the "Last Stochastic" works best with confirmation of both buy & sell signals with OBV. I speak from personal experience, because I played MCL.to back when it was $3.00 & change stock all the way to the middle of April. (of course I missed the breakout & the subsequent 2x bagger :( So ever since then, I have been looking for another indicator that might help me play those pre-breakouts better & ride the subsequent trend. Of course for those sharp eyed pattern players a triangle was also formed between April & May Also if I had practised my discpline thingy a little bit better this simple PnF chart stockcharts.com would have probably accomplished more or less the same thing... Just be aware that PnF is both a trending & lagging chart FWIW Regards, Peter