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

To: John Pitera who wrote (31079)	3/1/2002 8:00:56 AM
From: Square_Dealings	Read Replies (1) \| Respond to of 52237

Crude looks ready to break out to the upside this morning. Any bets on war in IRAQ starting up this weekend? M.

To: John Pitera who wrote (31079)	3/1/2002 10:02:57 AM
From: TechTrader42	Read Replies (2) \| Respond to of 52237

Whatever. I thought it was a good short at 65.5, based on my reading of the chart yesterday. 65.6 was the upper limit. And for short-term traders, well, so far so good. In this market, there are two types of traders -- the quick and the dead -- so covering at 64.3 or so wouldn't have been a bad idea, either. (There were signals in the 5-minute chart, such as the move off the lower Donchian channel.) Stochastics is in the 90s -- not a buying point in my foolish opinion. I wouldn't recommend stocks when %K is in the 90s. I don't know about stochastic having good momentum. To my mind, it's just overbought. Icarus probably had good momentum when things started to look pretty hot. One of the big clues in your chart is the falling volume. There's some nice divergence there. Your chart also shows -DI at an extreme, ready for a turn up. But there's always the possibility it could go higher, particularly since it broke through the upper channel during this morning's ramp job. TA is all speculation.