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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: advinfo who wrote (3542)	12/25/1997 10:00:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 7396

Northstar, in regards to SAVLY, I usually like to short stocks with an ADX reading of 35 or higher, this one has a weak reading of 13...... But you may still be able to make some money on it to the short side... Check out the volume, it has been decreasing as price moves up....Good sign for someone who likes to short... 20 day=4774 10 day=5990 5 day=2887 3 day=2659 O.K. I see the present move dying out in the 36.50-37.00 area, if not sooner....I would short it at or before that level(on momentum turnaround,) and set a protective buy limit stop 5% over entry price...the highest I see the move going is 40.00).....Fast stochastic is already displaying an overbought condition at 92....Trend is still negative with -D1 at 23 and +D1 at 25.....Look to cover at 32.50 for a clean 4 points......Nice... I sold my PZZI the other day for a $200.00 loss(less than 1/4 point)......My New Year's Resolution is to cut all losses quickly.....Got new Book for Christmas..."Technical Analysis of Futures Markets" by John Murphy....Old book copyright in 86, but looks good....Hope to have it read by early next week..... Regards, Mark