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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (9886)	12/31/1997 3:27:00 PM
From: Michael L.	Read Replies (2) \| Respond to of 79230

Esteban, Thanks for response. As Doug says, buy cats on signal day. In my understanding it is safer to short until valid signal. The question to research is how many cats went up without signal. I think we have to watch lows and highs. If ORCL will not make a higher high (higher than 22 3/4) on Monday it will go down. Ideal situation is if ORCL will jump on open on Monday but not higher than 22 3/4 and then will go down, this is a time to short. In this case it will have a good chance to make a new lower low (lower than 21) and may be will make a signal. I do not think there are cats that went up without PGDCEB or MIMBO. I like this game, but have some difficulties with establishing the bottom. On the way down there is a day when the price goes down sharp. I can not really use the trend line from the first day of decline. Otherwise I will lose a lot of profit on short. May be we have to use the last intraday high all the time for a trend. It is opposite from what Doug is saying about uptrend to use always the low on the signal day. May be he can clear up the situation with the rule to use the trendline in downtrend for cats. Michael