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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bob V who wrote (20143)	3/12/2003 2:26:42 PM
From: chowder	Read Replies (1) \| Respond to of 206093

Bob, The first thing I look at is the weekly chart. I want to see if the price is trading higher, lower or trading sideways. The direction of the trend dictates the strategy I use. In any event, I always make sure the Stochastic is oversold before I move to my other indicators. I don't buy or sell based on the Stochastic, I merely make sure it's in the range I prefer before I look to my other indicators. Once my criteria is set, I then look for reversal patterns. When I notice a reversal pattern, I will then look for volume patterns. With the condition of the market being what it is today, most reversal patterns are appearing as the result of shorts covering. We aren't seeing real buying in most cases. That is usually followed by panic buying on the part of those who are afraid the train may leave without them. The market conditions, as they appear recently, dictate that I wait for reversal patterns to confirm. This may take a few days to insure follow through. If you see above average volume 4-7 days following a reversal pattern, then the odds of real buying showing up are high. This is a simple explanation to an approach that can't be simplified in one message, but it's a start. dabum

To: Bob V who wrote (20143)	3/12/2003 2:39:42 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 206093

Bob, You may be more comfortable going through basic TA questions on some other threads. Here are a couple; I have my favorite among them, of course: Subject 50831 Subject 21685 Subject 28666 One recent problem is that with all the uncertainty it's pretty hard to pick out a trend, up or down, and ride with it, which often defeats the purpose of TA. TA should stand for "trend analysis" rather than technical analysis, imho. Kb