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

To: David R. Evans who wrote (7382)	12/31/1997 5:13:00 PM
From: feewaybill	Read Replies (2) \| Respond to of 12039

Hi Dave, Great post. It's printing out on my printer right now. I run your StochRSI(14) Explorer Scan every night on IBD's "Weekend in Review" list of stocks with RS/EPS > 70. I'm using Q+ now and Metastock 6.5. No GET. I started trading the smallcaps last year and had good results until the market correction in October. Since then I've stayed mostly in cash (made a couple of bad trades). My question concerns the large caps. Does your system(stochrsi(14),(8,5), DNS, Macd,ect. work equally as well on the large caps as the small caps? If so, could you recommend a Q+ scan to use to fill a database full of large caps? I'll check on Andy's Best of the Best for one also. I'm thinking maybe Richards BBB scan with Price > $35, Average Volume > 50,000(i'm guessing), relative strenght > 80? Sounds like you have been trading mostly large caps lately? Don't wear your fingers out the first week <g>.........thanks..........Bruce

To: David R. Evans who wrote (7382)	1/1/1998 10:41:00 AM
From: Jack Landis	Read Replies (2) \| Respond to of 12039

Dave....Let me add my WELCOME BACK!!! Your writeup on IBM was interesting to me for two reasons. First, I think it is very instructive to have everyone focused on the same stock when explaining their system and rationale. We are all lookin at the same information at the same time. Andy's 2 week test has been very helpful, especially in teaching people to think about shorts in a market like this. But because 100 different stocks are flagged it is difficult to look at them all and see the reasoning behind the selection. Wouldn't it be instructive if everyone focused on IBM and logged in when they would buy or sell (or short) according to their methods just as if we were using real $. You could trade short term or use a longer term approach.The real question is what works best in the market and can we "take" the signals when they occur.Is there anyone out there who would be willing to give everyone $10,000 in play money and keep tabs of the results? (I'm offering the idea but I'm not adept at keeping and posting) I truly believe that of all the things we could do to share ideas this might be the best. Then in Cleveland we can show and discuss the results. The second thought sparked from your discussion is in the treatment of RSI, MACD, STOCHASTICS. Tradional thinking is that the indicator must cross up from a low point for a buy and down from a high level for a sell. I find this not only misses good moves on strong stocks which have had a pullback but can leave you hanging when no sell signal is given because on a weak move the indicator never goes over the threshold. Well, these are some thoughts for the new year. What about the idea of working on IBM with $10,000 ? Jack Landis

To: David R. Evans who wrote (7382)	1/1/1998 11:04:00 AM
From: Chandler H. Everett	Read Replies (1) \| Respond to of 12039

Dave.......remind me to give you the name of my publisher.....how about writing a TA book when you're stuck in those Brazilian hotels or on a long plane ride!! BW Chan

To: David R. Evans who wrote (7382)	1/1/1998 11:23:00 PM
From: feewaybill	Read Replies (1) \| Respond to of 12039

Hi Dave , Thanks for the review of IBM using all your favorite indicators. Its interesting how you use the short term indicators and blend in the long term ones also. Could we take this IBM example a little farther. Let's say we liked the looks of IBM. Its StochRSI(14) just crossed up through 30. MACD (8,17.9) just crossed above 0. DNS crossed 5 heading up and all the others are looking good as well. We enter the trade. IBM moves up the hill in price. After a week or two the price starts sideways and our StochRSI(14) now signals a sell by returning back down through 70. Since we entered the trade using the StochRSI do we always have to exit using it? If the market looks strong and DNS is at 8, DAhl is above 0, MACD 13,34,89 is still moving up, can we switch to a longer term trading system and try to catch the next hill? Soak those fingers in cold water will help the swelling go down........thanks .....Bruce

To: David R. Evans who wrote (7382)	1/4/1998 2:01:00 AM
From: Terry Mitchell	Read Replies (1) \| Respond to of 12039

Hi Dave, I have been lurking here and have learned alot from you, Richard, Andy and others and it is great to see you are back. I seem to be in a similar situation as Chris so your recent posts have been quite timely for me. I realize that I have been taking inidicators that looked good and throwing my favorites together to make a system without taking in to acount how they might interact. You have just flipped on a light for me and I see the folly of my actions. You talk about using Fib Retracement. I have WOW Deluxe, yes I am saving my pennies to upgrade to Professional, which does not have this tool. It has Fib Angles & Gann Retracement would either of these be the same or similar? Terry