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Strategies & Market Trends : TAOTN- TA on the Net -- Ignore unavailable to you. Want to Upgrade?

To: Jack Landis who wrote (1571)	12/28/1997 8:26:00 PM
From: Richard Estes	Read Replies (2) \| Respond to of 1628

Since aug-sept, I have seen the volatitily cause a big shorting of the time frame for a long stock. Forcing me to think in terms of short term plays. I rely on E-wave to determine what wave a stock is in, usually a type I meaning it corrected to a wave 4 and now is headed towards a 5 wave upward. The e-wave and fib retracement level confirm if stock is healthy. A high RS rating should be present. using the short term contraction/expansion indicators you can find entries. For instance: NR4 or NR7 with an inside day or breakout scan. this helps make first day go to profit side but since trade may only have 3 days in it, you have to establish a time or % profit exit like out in 4 days or 5% profit or CCI(13)crossing 200. Linear trend is a good system for stocks still in an uptrend. It is a time for quick profits and losses. Most of our better systems aren't prepared for what we are seeing. The old dec 1994- sept 1997 runs of 6 weeks or more will return (I think). If it doesn't, I will stay short term and begin shorting. I still see this as we are still in bull, with a number of signs that a bottom might be in place. In tc2000, for short term see what a 7 day MA with a +5 horz shift might look like for entry and exit.