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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (45498)	2/6/2013 7:22:02 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 220518

Relative strength? Just guessing... GZ

To: Vendit™ who wrote (45498)	2/6/2013 8:30:44 PM
From: Fintas	Read Replies (1) \| Respond to of 220518

Yes RS meant RSI. Yet it's not the same as what most tools put up. I shift between comparing to spxew, spx, nasd, dow, or even peers. It allows me to see ranges. When tweaking I'll do it interday. Often a move can occur interday to confirm a direction or reversal that would not be caught end of day. I'll give an ex of it's benefit. OK so I see a range down. During the day, that range is taken lower. At that moment I'll jot down the price of the stock. IF it meets an objective down and I was looking to buy. I'd come in knowing that it had just woooshed. As I do that others may make the mistake of thinking it can go lower and miss it. When buying a call, it matters for that is it. There's the bottom. Anything else is a retests yet the price will not reflect the gift. On the flip side. Lets say I have a APPLE up of 710. RS says it can happen. I've compared it to spx, spxew, nasd, peers and ALL back test to that area. I've run strings etc and there it is. 710. BUT during a move RS peaks. Stock doesn't make that move and decision is made it's DONE. It's there one can write a covered call, sell it or hedge it. BUT it's DONE. Not using that tool can cause one to be waiting at the door and stock rolls. Classic ex was those who did NOT sell csco in 2007. Stock pushed to 34 and statement by Chambers had it open some 5 points lower. Those who saw the 34 twere OUT.They KNEW that was IT. Those that didn't saw it open at 29 only to drop drop drop to 23. Here we are near 4 strong years later and CSCO is still sucking wind for those who did what some are doing now. BUYING at the highs. UGH Ok hope it helps. Not for everyone for one has to have the discipline and desire to do it. Most just look at what some service is using and then guesstimate how high or low. Fintas... OH and while here. I posted the google info for it appeared you were suggesting someone short it. Not that you were long it.