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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (58866)	4/30/2002 12:00:42 AM
From: Jeff	Read Replies (2) \| Respond to of 99280

mike....i remember the big joke on the message boards last fall was.... here we go again....here comes the " dog ate my homework" excuse.....refering of course to the fact that everybody started jumping on the bandwagon of the 9-11 excuse because it was the "in" thing to do..... and it seemed to work as stocks kept going up..... so since it worked....others jumped on board.... thats what i meant by that.....of course many company's really did get hurt bad by that and likely still are... You can pin all the credit you want on technical. But, it is just a tool. Someday it will do something that you won't believe it should mike.....if the charts didn't do something i believe they would do....that would mean i use charts to try and confirm my beliefs.... thats like a bull minded person trying to "will" the charts up in his direction..... or the bear minded person to only look for the bad in the charts to prove they will go down only.... thats a big mistake..... i follow the charts....i just go where they lead me....its that simple.... most folks got hurt the last few days because the daily charts are screaming "oversold"....but the weekly and monthly charts are saying "no"...not oversold.... anyway...i use my same indicators in all timeframes from minute to monthly charts..... when one timeframe says buy....i go to the next timeframe to confirm or deny that signal.... the first charts i study are the longer timeframes of daily...weekly ...then monthly....i confirm each to each other to see the big picture and know how they will change with the next days action.... before each day....my first study includes the 5 min..15 min..30 min...and the most important hourly.....and confirm what will happen to each if the price starts up....or the price starts down.... like if the 30 min is already rolling over in overbought and heading down....and the hourly is in overbought.....but the 15 min and 5 min chart are still heading up and just getting in overbought....i know that in the next 10 to 20 minutes that if the price stalls.....all 4 timeframes will be in overbought.....and if the price starts falling now....the 5-min will roll over and head down....that will drag down the 15-min....the 15- min will drag down the 30 min...and so on...and i'm talking the stochastics here.... same with the MACD...if its under 0...i know i'm playing in a weak area...and can watch for weaker runs that may fade fast and breakdowns..... when the MACD is over 0....i can watch for stronger runs....and might even buy a dip or two...:-) sorry for the long post mike....i know i went on and on and on about nothing....but thats because of my passion for charting.... anyway....my style of charting is to just "follow" the indicators in all timeframes....and confirm...confirm....confirm.... then confirm again...:-) that way i'm prepared for many different circumstances...and most of those i prepare for are "worst case"....no sense trying to prepare for best case only....can't lose my money on those....thats the gravy... regards