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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (7135)	11/30/1997 1:02:00 PM
From: David Russell Coburn II	Read Replies (1) \| Respond to of 12039

Bob, Perhaps a little to exhuberant on my part. Not at all. Before I answerd his post, just like you I looked at his profile. I saw the multiple postings. I initially was going to respond in a similar manner but you made all my points so I just refered him back to your response. As for your question to Andy on why does a price break up or down, I don't know. I'm sure there are many factors involved, all of which cause the demand at a given price to be greater than the supply at that price. I used to be very interested in why a stock goes up or down. Now I am more interested in finding and identifying reliable footprints of stocks that may be starting up or down. For example often times when a stock approaches a resistance point for the 2nd or 3rd time with increasing volume and higher lows it will gap upwards. This is often an especially good situation when the next resistance is much higher and the chart between the two is actually a downward gap. Often when a stock is sold off hard and bounces on a significant moving average or previous channel it will reverse. These are certainly not foolproof but they are often good trades. Always have a stoploss number in your mind when you enter the trade and use it if the trade goes bad. David